South Korea
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Industrial Bank of Korea (IBK) raised $300m from its first trip to the additional tier one market on Monday. Investors embraced the structure, pushing the books to eight times covered. -
Industrial Bank of Korea (IBK) began marketing a subordinated perpetual bond on Monday morning, the first dollar additional tier one note from a South Korean policy bank.
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South Korea’s Doosan Infracore secured $300m from the sale of a three year note on Wednesday, pricing inside its curve with the help of a guarantee from the Korea Development Bank.
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Korea Hydro & Nuclear Power grabbed a modest $300m from its 10 year bullet in a busy primary market on Tuesday, tempering its expectations to seal a smaller size at a decent price.
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Investors gave Kyobo Life Insurance Co a warm welcome as it debuted in the market on Monday with the first dollar bond from a South Korean life insurance company.
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A relatively stable credit backdrop has encouraged a swathe of Asian issuers to tap the bond market this week, ensuring a blistering pace of issuance.
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Celltrion Healthcare has bagged W1tr ($886.3m) after pricing its IPO at the top of the initial marketing range, according to a banker familiar with the matter.
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South Korea’s Kyobo Life Insurance Co opened books on its debut dollar bond on Monday — a subordinated 30 year rolling-in perpetuity non call five note.
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Celltrion Healthcare is on track to raise W1tr ($882.4m) as it eyes the top of guidance for its IPO, taking advantage of strong demand from international long-only funds, according to a source close to the deal.
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Korea Gas Corp took advantage of an improvement in market sentiment after US Federal Reserve chair Janet Yellen spoke to Congress, sealing an $800m dual tranche deal on Thursday.
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CJ CheilJedang Corp sold all of its stake in Samsung Life Insurance Co through an overnight block this week, raising W357.7bn ($314.2m) after the bookrunners managed to move investors up to the middle of the price range.
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Korea Gas Corp opened books for a dual tranche dollar deal on Thursday, more than a month after wrapping up a roadshow in Europe. Industrial Bank of Korea and Doosan Infracore, meanwhile, have mandated banks for new dollar transactions.
