LG HelloVision Issues KRW 1.7 Trillion in Unsecured Bonds for Refinancing and Working Capital

Issuance of 15-1: KRW 300 billion (2-year, 3.985%) and 15-2: KRW 1.4 trillion (3-year, 4.133%) unsecured bonds
Successful demand: 15-1 bid-to-cover ratio 7.33x, 15-2 ratio 2.88x
Final spread: +2bp for 15-1, +1bp for 15-2 over individual evaluation yield
Proceeds: KRW 1.6 trillion for debt repayment (including series 12-2 of KRW 120 billion and CP of KRW 40 billion), KRW 100 billion for working capital
Credit rating AA- (stable) from KIS Ratings and Korea Ratings
2025 consolidated revenue KRW 1.266 trillion, operating profit KRW 18.7 billion, net profit KRW 1.78 billion (turnaround)
Debt ratio 179.64%, debt dependency 46.12%, indicating moderate financial leverage
Business risks include paid broadcasting market saturation, OTT growth, and terrestrial retransmission fee disputes
Major shareholder LGU+ (58.61%) provides potential support and stable governance
No dividend for 2025, no share buyback or cancellation plan