Mirae Asset Securities Issues 460 Billion KRW in Corporate Bonds for Debt Repayment and Capital Ratio Improvement

Mirae Asset Securities issued a total of 460 billion KRW in unsecured bonds, including 100 billion KRW for the 86th series and 360 billion KRW for the 85th series subordinated bonds, with all proceeds allocated to repay existing borrowings.
The 85th series subordinated bonds qualify as an add-on item to operating net capital under financial investment regulations, raising the net capital ratio from 3524.2% to 3801.1% as of end-Q1 2026, thereby enhancing capital adequacy.
This debt issuance does not dilute existing shareholders' equity, and no shareholder return measures such as treasury stock acquisition or cancellation were disclosed.
[AI Summary]Mirae Asset Securities' 460 billion KRW bond issuance is a defensive capital raise fully used for debt repayment, improving financial stability. Inclusion of subordinated bonds significantly boosts the net capital ratio, but the lack of direct link to shareholder returns or growth investment suggests a neutral impact on the stock price.