Korea shortlists six

The Republic of Korea is believed to have shortlisted six banks to compete today (Tuesday) for a $1 billion sovereign bond.

In what is shaping up to be one of Asia's fastest mandate selection processes, the Korean government is expected to award two investment banks joint books for a $1 billion 10-year global bond on Wednesday morning.

The decision should come just one day after six shortlisted banks submit hour-long presentations to a specially convened committee of Ministry of Finance MoFE officials, academics and independent policy advisors. Although the committee has been deliberately constructed to ensure an even handed approach, many market participants, nevertheless, expect Goldman Sachs to win one of the slots since the bank has been one of main the driving forces behind the government's decision to issue a new sovereign...

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