korea-reconsiders-sovereign-timetable

Korea reconsiders sovereign timetable

Having postponed its planned $1 billion sovereign bond last week, South Korea may now return to the market within weeks.
South Korea is likely to start marketing its $1 billion US dollar-denominated sovereign within weeks rather than months, after the collapse of Lehman Brothers over the weekend, says a debt syndicate banker involved in the issue.

South Korea said on Friday it had postponed its planned sovereign bond due to tough credit market conditions caused by concerns over troubles at Lehman Brothers and other regional factors. Lehman is one of the arrangers of the bond.

ôThe Koreans have just postponed the issue rather than cancelling it as the market conditions have deteriorated, but doubts have been cleared regarding Lehman,ö the banker says. He added that with Lehman Brothers declaring bankruptcy and a consortium of 10...
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