South Korea

The Export-Import Bank of Korea (Kexim) priced a five year euro benchmark on Monday, nipping in with a one day execution ahead of a trio of deals scheduled for Tuesday.

Kia Motors has approached lenders for a financing to support the construction of a production plant in India that was announced late last month.

Korea Water Resources Corp raised $350m on Tuesday, becoming the first corporate in the offshore market after South Korea’s presidential election, issuing just two days after North Korea tested a new missile.

MBK Partners has shed part of its stake in South Korea’s Coway Co, netting W370.5bn ($329.8m) with the shares pricing at the bottom of guidance.

Korea Water Resources Corp as well as developers Sun Hung Kai Properties and Logan Property Holdings launched new dollar deals on Tuesday morning.

South Korean oil company GS Caltex Corp has mandated banks for a dollar deal, with a global roadshow starting next week.

Korea Expressway Corp broke South Korean issuers’ silence in the Swiss market on Wednesday. As rates stabilise for Swiss investors, and basis swaps improve for foreign issuers, Zurich bankers hope this deal reignites more bonds from the Asian country.

South Korea’s Woori Bank sealed its third Basel III additional tier one deal on Monday, raising $500m just before the country held its long-awaited presidential election.

South Korea’s Woori Bank sneaked into the debt market on Monday with a $500m Basel III additional tier one, timing its deal for the day before the country held its presidential election.

The Asian G3 debt market opened on Monday with two deals from financial names and a mandate, in addition to two launches from corporates, following the positive sentiment overnight from the French presidential election.

South Korean low-cost carrier Jin Air is looking to raise at least $200m from an IPO in 2017, according to a source close to the deal.

Netmarble Games produced South Korea’s largest IPO in seven years last week, in a deal many are hailing as a shining light for Asian ECM. But the optimists should be realistic about Korea. The success of the game maker’s W2.7tr ($2.4bn) IPO is an isolated case and unlikely to lead to a revival in domestic listings.