Theworld's largest investment bank Goldman Sachs decided to issue "Arirangbonds" worth 20 billion won. This indicates that the investment bank has abright outlook the Korean economy.
ForAmerican securities firms to issue non-dollar denominated bonds like Arirangbond, the stability of the local currency is an important precondition. GoldmanSachs' latest decision reflects its view that given the fundamentals of theKorean economy, chances are low for the won to make volatile movements.
Accordingto industry sources on May 16, Goldman Sachs is set to issue 20 billion wonworth of Arirang bonds with a maturity of 20 years on May 17. Hana FinancialInvestment is a lead manager for the issuance of the Arirang bonds with anannual compound yield rate of 2.75 percent.
Thecredit rating for the Arirang bonds for which Goldman Sachs will issue is giventhe highest grade of AAA. A local insurance company is believed to have a planof purchasing the bonds.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip