Trinity Airways Decides to Issue 110 Billion KRW Hybrid Perpetual Bonds to Largest Shareholder Sonom International for Capital Expansion
Trinity Airways resolved at its board meeting on June 18, 2026 to issue 110 billion KRW of hybrid perpetual bonds classified as equity. The bonds are subordinated unsecured private placement perpetual bonds, fully subscribed by the largest shareholder Sonom International.
The purpose is to secure financial soundness and capital expansion, with the proceeds used for operating funds. The coupon rate is 6% and maturity is 30 years until 2056.
Since this is a capital securities issuance without new shares, there is no dilution for existing shareholders. However, interest expenses will be incurred and specific terms are delegated to the CEO for finalization.
[AI Summary]Trinity Airways plans to improve its financial structure by issuing 110 billion KRW hybrid bonds to its largest shareholder, but the use as operating capital lacks growth potential and the interest burden may weigh on shareholder value. The AI score is 4, reflecting positive capital strengthening but defensive capital allocation, resulting in a somewhat negative outlook.
KOSPI Filing Information
Report On Major Events (Decision On Issuance Of Debt Securities Recognized As Capital)