South Korea

South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.

BOC Aviation, Metallurgical Corporation of China (MCC) and Bumi Serpong Damai were the first out of the gates on Monday morning with their new bond deals, as the Asian debt market prepares for an onslaught of supply.

Hyosung Vina Chemicals, a Vietnam-based business unit under South Korean conglomerate Hyosung, is raising a $1bn loan from both Korean and international lenders.

Hanwha Life Insurance Co became the latest South Korean name to raise funds from the dollar bond market on Monday, as the country’s insurance firms prepare to adhere to new capital standards.

LG Chem sealed its equity-linked debut in style this week, offering investors a rare dual-currency trade that added some much-needed diversity to their Asian portfolios. The $608m deal was also only the second undocumented sale of convertible bonds in the region, writes John Loh.

Korea Resources Corp (KoRes) navigated a number of hurdles to complete its $500m bond on Tuesday to imminently refinance maturing notes. The company found plenty of support for its annual issuance, but only after it offered a juicy premium to investors.

Korean battery maker Samsung SDI Co has raised W559.9bn ($525.2m) after offloading its stake in Samsung C&T Corp at the mid-point of guidance, according to sources close to the deal.

South Korea’s LG Chem is looking to raise up to $735m from a pair of convertible bonds in euros and dollars with an aggressive double zero structure.

Korea’s SK Telecom Co (SKT) found exceptional demand for its dollar bond on Monday — the company’s first offshore deal in more than five years — allowing it to price with a single-digit premium.

South Korea’s Samsung SDI Co is looking to clean up its stake in Samsung C&T Corp, launching an up to W565.9bn ($530.4m) block deal on Tuesday evening.

South Korea’s GS Caltex Corp sealed a Swiss franc denominated bond on Thursday, diversifying away from its usual Korean won and US dollar funding.

South Korea’s Hanwha Life Insurance Co will meet international investors from next week ahead of a subordinated transaction. The issuer is one of many from the country that is looking to beef up its capital ratios, as the government gets ready to adopt new international accounting standards.