With the volatility in the equity markets and the uncertainty over the economic outlook, Asia’s wealthiest people are putting their cash to work in the bond markets.
Industrial Bank of Korea kicks off Korean G3 issuance in 2010 with senior unsecured 5.5-year notes. Korea Development Bank and Kexim are expected to be next in line.
Korea's biggest bank attracts strong demand for a $1 billion five-year covered bond issue, and avoids the constraints and stigma attached to government guarantees.