AA-Rated 170 Billion Won Bond Issuance Successful, Spread of +0.01~0.02%p Over Individual Yield
Issuance of 170 billion won in corporate bonds (Series 15-1: 30 billion won, 2-year; Series 15-2: 140 billion won, 3-year), increased by 20 billion from initial 150 billion due to strong demand forecast
Demand forecast results: competition ratio of 7.33x for Series 15-1 (220 billion won bids) and 2.88x for Series 15-2 (345 billion won bids); final interest rate set at individual yield plus 0.02%p and 0.01%p respectively
Proceeds of 160 billion won to be used for repayment of existing debt (Series 12-2: 120 billion won, CP: 40 billion won) and 10 billion won for working capital (terminal purchase, etc.)
Credit rating: AA- (stable) from Korean Credit Rating and Korea Ratings
FY2025 consolidated revenue of 1,265.7 billion won, operating profit of 18.7 billion won, net profit of 1.8 billion won (turned to black), debt ratio of 179.64%, interest coverage ratio of 0.90x, indicating financial burden
Key risks: intensifying competition with IPTV/OTT in pay-TV market, burden of retransmission fees, history of personal data leak sanctions, potential increase in borrowings
KOSPI Filing Information
Filing: [Correction of Description] Securities Registration Statement (Debt Securities)