South Korea
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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. -
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.
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South Korean flag carrier Korean Air is planning a share sale that could raise W450.0bn ($378.0m), according to a filing with the Financial Supervisory Service on Thursday.
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BNP Paribas opened the block market in Asia with a W382.1bn ($316.7m) sell-down in South Korea’s Shinhan Financial Group Co this week.
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The Republic of Korea looks set to be the first Asian sovereign to hit the international debt market in 2017, with plans to meet fixed income investors next week for a potential dollar bond.
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Netmarble Games has received the green light to list on the Korea Exchange, paving the way for an estimated W2tr ($1.7bn) IPO next year.
