South Korea

South Korean game developer Netmarble Games has started pre-deal investor education for its up to W2.7tr ($2.4bn) IPO, according to bankers working on the transaction.

South Korean mobile game developer Netmarble Games plans to submit its IPO prospectus on Friday and start pre-deal investor education on March 20, according to a banker working on the deal.

Celltrion Healthcare, the marketing affiliate of Korean drug manufacturer Celltrion, has got the go ahead from Korea Exchange to launch its IPO, which could raise up W1tr ($873.4m) according to a source familiar with the matter.

The cloud hanging over South Korea’s financial markets has been lifted after the country’s president Park Geun-Hye was ordered to resign her office last week, impeached following a six month influence peddling scandal involving her close friend Choi Soon-Sil.

A1/A+/A- rated KEB Hana Bank is eyeing to return to the international debt market with a 144A/Reg S transaction, having hired seven firms to arrange a global roadshow.

ING Life Insurance Korea has secured the OK from Korea Exchange to list through an IPO, according to a KRX announcement.

China Development Bank jumped on the floating rate note (FRN) bandwagon this week, bagging $3bn equivalent and adding its name to a list of issuers that recently sold bonds in the format. With demand rather than supply driving deals, and with interest rate hikes looming, the stage is nicely set for more FRN trades, writes Addison Gong.

South Korea’s Hyundai Capital Services timed its $600m outing well, thriving on its strong name recognition and the variety it added to the debt market to put together a fairly priced deal.

Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.

Hyundai Capital Services opened books for a 144A/Reg S bond on Monday, its first outing this year. Issuers from South Korea have been active in DCM in 2017, but HCS will be the first non-bank financial credit from the country to woo investors.

Industrial Bank of Korea has bagged W193.5bn ($171.4m) after cleaning up its position in Korean hypermarket chain E-Mart, according to a term sheet seen by GlobalCapital Asia.

Korea National Oil Corp will host a global roadshow next week ahead of a new international bond, to be sold in dollars and/or euros.