South Korea
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South Korean short-haul carrier T’way Air is set to raise W233.6bn ($207.1m) after pricing its IPO below guidance. -
Nonghyup Bank returned to the dollar market on Monday, making the most of an improvement in investor sentiment. The South Korean bank was able to price its new bond with little to no new issue premium.
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High yield issuers have steered clear of the primary Asian bond market in recent weeks, but a tap by Agile Group Holdings at the end of last week showed there is still some demand for lower rated names.
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Korea Hydro & Nuclear Power (KHNP) raised $600m with a green bond on Wednesday, offering no new issue premium to an investor base desperate for environmentally friendly assets.
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The Republic of Korea has named five banks to lead its upcoming bond issuance.
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IT service provider Lotte Data Communication is on track to raise W127.7bn ($113.5m) after pricing its IPO close to the bottom of guidance.
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Korea East-West Power Co (EWP) raised $500m from a sustainability bond on Thursday that proved popular both in the primary and secondary markets, reflecting investors’ eagerness for defensive names.
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KEB Hana Bank raised $315m from a five year floating rate note in the Formosa market on Thursday, selling the bond with no new issue premium thanks to strong support from Taiwanese investors.
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Hyundai Oilbank, a subsidiary of shipbuilding giant Hyundai Heavy Industries, is looking for the green light for an IPO of up to W2tr ($1.77bn).
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A shareholder in Korea Aerospace Industries has bagged W236.4bn ($210.9m) after cleaning up its position in the company through a block trade on Tuesday evening.
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The Republic of Korea has sent out a request for proposals for a new bond issue, and is expected to select the bookrunning banks by next Tuesday.
