South Korea

Korea Expressway Corp snapped up $400m on a busy Tuesday that saw eight bonds marketed in Asia ex-Japan. Although floating rate notes are gaining popularity in a rising rate environment, the region’s bond market will continue to be focused on fixed rate deals, reckoned market participants.

Korea Expressway Corp joined the flurry of bond launches in Asia on Tuesday, marketing a three year floating rate dollar note.

Netmarble Games has launched the international roadshow for its planned W2.7tr ($2.4bn) listing that will wrap up in two weeks in the US, drawing demand as it goes for what is set to be South Korea’s largest IPO this year.

Two groups of vendors exited their holdings in two Asian firms this week, with block trades in Hong Kong-listed Imax China Holding and South Korea’s Kakao Corp raising a combined $278.1m.

ING Life Insurance Korea launched bookbuilding for its W1.3tr ($1.2bn) IPO on Thursday, in a deal helmed by five firms.

Korea South-East Power Co (Kosep) pulled in $300m for its new three year bullet, after competing with more attention grabbing transactions on Wednesday.

A block in South Korea’s Kakao Corp launched on Wednesday evening could raise W198bn ($176m) for Wemade Entertainment Co.

Korea South-East Power Co (Kosep) opened books for a three year dollar bullet on Wednesday, following on the momentum from other issuers in the country.

South Korea’s Financial Supersory Service is reviewing Samsung BioLogics for potential financial fraud in the lead up to its W2.25tr ($2.0bn) IPO last year, according to a banker who worked on the listing.

Hyundai Capital America seized on Asian investor liquidity to close a $1.1bn deal across three tranches, including a floating rate note, on Wednesday.

Korea Expressway Corp and JSW Steel have mandated banks for new international dollar deals as the first quarter draws to a close.

South Korea’s KEB Hana Bank on Monday priced a $500m three year floating rate bond — its first after a merger — around theoretical fair value, with political turmoil in the country not denting investor sentiment.