South Korea

A pair of Samsung Group insurers are looking to offload W1.33tr ($1.2bn) of shares in sister firm Samsung Electronics, poised to be South Korea’s largest overnight bookbuild since 2011.

The Export-Import Bank of Korea focused solely on floating rate notes for its $1.5bn dual-tranche bond outing on Wednesday, getting away with tight pricing thanks to robust buy-side demand.

An unnamed vendor has raised W236.1bn ($217.6m) after paring its stake in Samsung Engineering Co through an equity sale, according to a source close to the deal.

An unnamed vendor rumoured to be BlackRock is in the market with an overnight equity sale in Samsung Engineering worth up to W237.8bn ($220m).

KDB Life Insurance Co bagged a $200m subordinated trade on Monday in its first foray into the international bond market, getting away with the structure despite a volatile backdrop

Kakao Games, the gaming arm of South Korean internet giant Kakao Corp, has set the initial terms for an IPO as it waits for the green light to go public.

Investors poured into Korea Water Resources Corp’s $300m green bond on Tuesday, satiating their thirst after a rare offering from the state-owned issuer. The deal got a boost of liquidity after the bookrunners tapped a growing pool of green-focused investors.

South Korea’s Busan Bank raised Rmb500m ($78.62m) from its first Formosa bond last Friday, taking advantage of the arbitrage opportunity to swap the deal back to dollars.

Hyosung Vina Chemicals, which launched a $1bn loan last month for capital expenditure related to chemical plants in Vietnam, has cancelled the fundraising. Its new Vietnamese unit is still pending the government’s approval for incorporation, according to a South Korea-based banker close to the deal.

Morgan Stanley’s private equity arm raised W230.4bn ($214.3m) from an overnight sell down in South Korea’s Hyundai Rotem on Wednesday.

David Lim has rejoined Credit Suisse in the newly created position of vice-chairman for private banking, southeast Asia, effective next week.

LCH, the majority-owned clearing house of the London Stock Exchange, on Tuesday began clearing non-deliverable interest rate swaps in Chinese yuan, Korean won and Indian rupees.