Hyundai Capital Services became the first Korean issuer to sell a benchmark international bond this year when it raised $700m late last week. The company sold a tightly-priced deal despite competing with heavy supply from other Asian borrowers.

West China Cement, Rural Electrification Corp and Hyundai all sold international bonds last week — before China National Offshore Oil Corp (CNOOC) capped the week off with a $2bn blow-out deal. The state-owned energy company sold the deal late on...

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