KCC Glass Issues 5th Unsecured Bonds Worth KRW 100bn, Book-Building Successful but Operating Loss Widens
KCC Glass decides to issue 5th unsecured bonds worth KRW 100bn (limit KRW 150bn). Maturity in Feb 2029, final interest rate set at individual yield +0.25%p.
Book-building result: KRW 130bn applications (coverage 1.3x), 13 institutions participated. Coupon set at +0.25%p.
Proceeds: KRW 50bn for redemption of 3-1 bonds (KRW 50bn, due Jun 2026), KRW 50bn for operating funds (raw material purchases).
Credit rating AA- (stable) by Korea Ratings and NICE.
Q3 2025 consolidated operating loss of KRW 55.3bn (vs profit of KRW 50.4bn YoY), turning to loss. Revenue KRW 1.44tn (+3.7% YoY).
Q4 performance expected similar to Q3, but possible one-off costs (annual bonuses, etc.).