SG to enter structured bond business in South Korea
SG, the investment banking arm of France's Société Générale, plans to start offering structured bonds in South Korea by the second half of this year to cater for the growing demand for yield enhancing structures in the country, according to an official at the bank in Seoul.
On the issuing side, companies are also trying to cut funding costs by issuing bonds with embedded options such as swaptions and digital options, said one market participant at a domestic bank in the country. “That’s where most of the business is at the moment,” he added.
SG’s Seoul office will work on structuring and marketing the structured bonds to insurance companies and investment trust companies. The bank does not plan to add any more staff to its existing team in South Korea this year.
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