NH Investment & Securities Issues 590 Billion Won Unsecured Bonds to Refinance Commercial Paper, AA+ Rating Affirmed
NH Investment & Securities has finalized the issuance of 590 billion won in unsecured bonds after demand forecasting, comprising 310 billion won for Series 76-1, 230 billion won for Series 76-2, and 50 billion won for Series 76-3.
All proceeds will be used to repay maturing commercial paper issued in 2025-2026, with a total rollover amount of 590 billion won.
Credit rating agencies Korea Ratings, Korea Investors Service, and NICE Investors Service have all assigned AA+ stable ratings, and joint lead managers are Shinhan Investment Corp and SK Securities.
Following demand forecasting, the coupon rates were set at -0.02% spread for 2-year, flat for 3-year, and +0.02% spread for 5-year relative to the individual evaluation yield.
[AI Summary]This bond issuance by NH Investment & Securities is a refinancing to extend short-term debt maturities with no dilution to shareholders. Given the AA+ rating and strong demand with bid-to-cover ratios of 5.9x to 8.4x, the funding is expected to proceed smoothly, though the use of funds solely for debt repayment indicates a conservative capital allocation strategy.
KOSPI Filing Information
[Confirmation of Issuance Terms] Securities Registration Statement (Debt Securities)