Mirae Asset Securities Issuance of 360 Billion KRW 85th Unsecured Subordinated Bonds for Debt Refinancing and Financial Soundness Improvement
Mirae Asset Securities issued 360 billion KRW of 85th unsecured subordinated bonds with a 5.20% coupon, 6-year maturity, and AA- stable credit rating.
All proceeds will be used to repay short-term debt maturing in June 2026, including 50 billion KRW in electronic short-term bonds and 340 billion KRW in commercial paper, totaling 390 billion KRW, thereby extending the debt maturity profile.
The issuance is expected to improve the consolidated NCR from 3,524.2% to 3,801.1%, an increase of approximately 266.81 percentage points.
The company continued its shareholder return policy in 2025 by canceling 18,230,674 common shares and 3,321,518 second preference shares through profit cancellation.
As of Q1 2026, the consolidated NCR stood at 3,524.2% and the standalone leverage ratio at 770.3%, well below regulatory thresholds, indicating sound financial health.
[AI Summary]Mirae Asset Securities raised 360 billion KRW through a direct public offering of subordinated bonds to refinance short-term debt and enhance capital adequacy. The defensive use of proceeds, AA- credit rating, and institutional investor placement limit investment risk, but the subordinated nature implies lower priority in repayment compared to senior creditors.