Korean Dollar Bonds Advance as SK Innovation Completes Offering
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SK Innovation Co., the South Korean oil refiner, sold dollar bonds as the nation’s corporate notes in the currency are among the leading gainers in Asia outside Japan this month amid low supply.
Korean debt rose 0.23 percent since July 31 while Chinese notes climbed 0.26 percent, the top performers among Asia’s five largest markets, according to indexes compiled by JPMorgan Chase & Co. SK Innovation yesterday sold $350 million of five-year securities, with bids exceeding the amount offered by almost eight times, said a person familiar with the matter.