Hotel Shilla Issues 245 Billion Won in Public Unsecured Bonds for Debt Refinancing and Working Capital
Hotel Shilla will issue a total of 245 billion won in public unsecured bonds on April 22, 2026, comprising 70 billion won in Series 77-1 and 175 billion won in Series 77-2.
The issuance amount increased by 115 billion won from the initial 130 billion won filing, driven by strong institutional demand. Proceeds of 130 billion won will be used to refinance the maturing Series 70-3 bonds due on April 23, 2026, while the remaining 115 billion won will fund working capital for the duty-free business.
Korea Ratings and Korean Credit Ratings assigned AA- negative and AA- stable ratings respectively. Lead underwriters include major securities firms such as Shinhan, NH, and Mirae Asset, enhancing underwriting credibility. The bonds are non-convertible, posing no dilution risk to existing shareholders.
[AI Summary]This bond issuance is a pure debt instrument with no equity conversion features, thus posing no dilution risk to existing shareholders. The use of proceeds for debt repayment and operational funding for the core duty-free business strengthens financial stability and supports business continuity. Strong institutional demand with bid-to-cover ratios of 9.16x and 6.91x and AA- credit ratings underpin the company's solid financial position.
KOSPI Filing Information
[Confirmation of Issuance Terms] Securities Registration Statement (Debt Securities)