South Korea
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The Hong Kong Monetary Authority (HKMA) released one of the most disappointing sets of RMB data last week when it revealed that the city’s renminbi deposits had plunged 12.9% in December 2016 to Rmb546.7bn ($79.5bn).
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Industrial Bank of Korea (IBK) has become the latest issuer from the country to venture offshore, opting for a Reg S only format to speed up execution. -
ING Life Korea is planning to raise $1bn from an IPO in 2017, according to a source familiar with the matter.
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Siam Commercial Bank and the Industrial Bank of Korea both returned to the dollar bond market on Monday an extended period away.
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The Export-Import Bank of Korea (Kexim) raised $1.5bn Wednesday across three and five year tranches, less than a week after the Republic of Korea reopened the Asian sovereign market with a $1bn 10 year deal.
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China Development Bank priced a mammoth five tranche deal Tuesday, raising more than $4bn across three dollar and two euro tranches, making it the first Chinese name to issue a euro deal this year.
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The South Korean government is planning to list state-owned energy company Korea East-West Power Co in 2017 with an IPO potentially worth around W1tr ($857.4m).
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The Republic of Korea became the first Asian sovereign out of the gate in 2017, sealing a $1bn 10 year bond on Thursday against a backdrop of political turmoil in the country.
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The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.
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South Korea is expecting a strong flow of IPOs in the first half of 2017 as a choppy end to last year delayed many companies from launching deals. But there is some concern among ECM bankers that a burst of listings could clog up the market.
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Asset manager Barings has tapped a new chief executive officer for its South Korean operations, according to a Tuesday announcement.
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South Korean game developer Netmarble Games is on track to start pre-marketing its up to W2tr ($1.7bn) IPO shortly after Chinese New Year, according to a banker working on the trade.
