KDB Daewoo Securities

The Korea Development Bank returned to the offshore market on Tuesday, adding a dash of variety to its funding with a Formosa transaction.

Korea Development Bank assured investors that all is well in the South Korean market by selling a closely watched triple tranche deal the day after the United Nations announced sanctions against its northern neighbour. The policy bank managed to grab $1bn, but the transaction wasn’t without its challenges. Morgan Davis reports.

Korea Development Bank made a strong statement to the market with a $1bn triple-tranche deal on Tuesday, despite some investors being wary about North Korea and others balking at the price.

The Korea Development Bank is courting investors for a triple-tranche dollar offering, including a new floating rate note and a fixed rate note, as well as a tap of its existing floating 2022s.

A $575m loan for Twin Star Mauritius, an entity under mining giant Vedanta Resources, entered general syndication on Monday with five banks at the helm.

Low cost carrier and Korean Air affiliate Jin Air is looking for the go-ahead to take itself public, having filed initial listing documents on August 25.

Korea Development Bank (KDB) has made its debut in the Swedish krona market, becoming the second Korean public sector entity to do so this year.

South Korea’s Doosan Infracore secured $300m from the sale of a three year note on Wednesday, pricing inside its curve with the help of a guarantee from the Korea Development Bank.

Celltrion Healthcare has bagged W1tr ($886.3m) after pricing its IPO at the top of the initial marketing range, according to a banker familiar with the matter.

Celltrion Healthcare is on track to raise W1tr ($882.4m) as it eyes the top of guidance for its IPO, taking advantage of strong demand from international long-only funds, according to a source close to the deal.

Korea Gas Corp opened books for a dual tranche dollar deal on Thursday, more than a month after wrapping up a roadshow in Europe. Industrial Bank of Korea and Doosan Infracore, meanwhile, have mandated banks for new dollar transactions.

Korea Development Bank (KDB) added a dash of variety to Asia’s green market on Tuesday with its inaugural $300m deal, finding support from a combination of dedicated green funds, as well as conventional investors. Typical of issuers from South Korea, the policy bank did not pay any new issue premium for its fundraising.