South Korea

South Korea’s Doosan Bobcat has announced the price range for its IPO, which is expected to raise W2.4tr ($2.2bn) and become the largest listing in the country in six years.

Korea Development Bank raised $1bn from a dual-tranche offering on Tuesday, achieving one of the narrowest spreads for the country’s issuers since 2008. And by using a pretty aggressive strategy, KDB priced its 10 year at a tighter spread than its three year notes.

The South Korean subsidiary of Japan-based footwear retailer ABC-Mart is making its third attempt to list on the Korea Exchange.

Korea Development Bank was courting investors on Tuesday for its fixed rate dual tranche dollar offering, replicating the SEC-registered format used for its January outing.

ING Bank has made changes to its businesses in Mongolia and South Korea, appointing a new chief representative for the former and bolstering its presence in the latter.

ING Bank has obtained a securities branch license from the Financial Services Commission of South Korea, giving it the ability to broker debt capital market and alternative investment deals for clients.

China’s Yestar International Holdings Company and South Korea’s Nonghyup Bank have kicked off investor meetings for their respective bond offerings.

Hyundai Capital Services got the timing right on its 144A outing on Tuesday, making an opportunistic move before the markets become crowded with South Korean names. Market participants said HCS’s efforts in putting together its trade paid off, with a win-win outcome for both investors and the issuer.

Doosan Bobcat is expected to start gauging sentiment for its $1bn-$2bn IPO in South Korea immediately after the securities registration statement is filed on September 8, according to bankers on the deal.

Hyundai Capital Services (HCS) opened books for a three year dollar-denominated note on Tuesday, less than six months after tapping the market for its debut green dollar bond.

South Korea’s Small & Medium Business Corp (SBC) pulled in $500m on Monday from its return to the debt market after a hiatus of 10 years. The combination of a recent credit rating boost and its rarity allowed the issuer to price the bond in line with policy banks.

South Korea’s Small & Medium Business Corp (SBC) has returned to the international debt market after a decade-long absence, launching a new 10 year dollar note on Monday.