Doosan Power and ICBC bank dollar deals

Unusual credit-enhanced deal from Korea kicks off the week's new issue calendar alongside the second three-year deal by an ICBC branch within the space of a month.

Doosan Power and ICBC bank dollar deals

Doosan Power and ICBC Sydney branch kicked off the week's new issue pipeline on Monday with contrasting $300 million transactions.

The Korean credit followed the recent precedent of Korean Air Lines with a credit-enhanced, perpetual non-call three offering that was structured with a 30-year maturity that rolls over into perpetuity.

However, like its predecessor, the transaction is effectively a short-dated note since it features a three-year call option and mandatory put option....

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...