Korea kicks off sovereign bond supply

As Indonesia and the Philippines eye dollar deals, Korea shows how it's done.

Asian sovereigns are lining up to tap the bond markets. Indonesia is talking to banks about a dollar sukuk, and is plotting euro and yen bonds later in the year. The Philippines has had discussions with bankers about its own dollar return.

But it was South Korea a rare issuer by Asian sovereign standards that started the ball rolling this year, selling a $1 billion 10-year deal. The success of the transaction is a good omen for other governments eyeing their own deals.

The Aa2AAAA- rated sovereign borrower took advantage of buoyant market conditions this week, as investors look to top up their...

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