KDB Daewoo Securities

Abu Dhabi Commercial Bank is raising a $300m new money loan from Asian lenders to tap a previously unused source of funding.

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.

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.

Korea Development Bank, one of the two co-ordinating banks for Akbank’s loan, stepped away from the mandate last week, it has been revealed, after the attempted military coup left the borrower facing a rating downgrade into junk territory.

Akbank will widen the margin on its loan by 25bp if the bank is downgraded. The move is a condition the bank’s relationship lenders required after the attempted coup in Turkey on July 15. While Burgan Bank this week avoided a similar clause, other Turkish banks will likely have to accept them.

Akbank will widen the margin on its loan by 25bp if the bank is downgraded, a condition the bank’s relationship lenders called for after Turkey’s attempted coup on July 15. But two lenders said the step-up should be bigger.

Indonesian motorcycle credit company Federal International Finance (FIF) has roped in nine lenders to supply a $200m three year loan on a club basis.

Akbank has outlined plans to broaden the reach of Turkish banks among Asian lenders beyond Japan and improve awareness of longer tenors, as it returns to the loan market for the second time this year.

Akbank is returning to the loan market for the second time this year, lining up one and three year tranches in euros and dollars.

Hotel Lotte Co is aiming to raise as much as W5.7tr ($4.8bn) from its South Korean IPO and is due to start pre-marketing on Friday.

South Korea’s Hotel Lotte Co, which is planning a $3bn-$5bn listing, could start bookbuilding on Friday, according to a source close to the deal.

Samsung Biologics, which sent out a request for proposals for its South Korean IPO on April 29, is understood to have invited nine domestic and six international firms to submit bids.