KDB, Shinhan and Woori price

A big day for Korean borrowers.

The pricing of a $750 million upsized bond issue for the Korea Development Bank KDB during New York's afternoon yesterday Wednesday topped off a day-and-a-half of intense issuance activity by Korean borrowers. Deals for KDB, Shinhan and Woori all appeared to be a success, with many considering the two bank deals a particularly attractive proposition for investors.

All three borrowers followed an understandably cautious strategy of marketing wide guidance in the hope of building momentum and reigning price talk back in. And the response seems to show that the North Korean issue has at least temporarily faded in the minds of many international investors. On a wider level, it highlights renewed enthusiasm...

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