Daishin Securities Issues KRW 9.99 Billion DLB 398 for Hedging, Limited Impact on Shareholder Value

Daishin Securities will issue the 398th Derivative-Linked Bond DLB on June 23, 2026, worth KRW 9.99 billion. The bond is linked to the 3-month Korean Treasury bond rate, with a maturity of 183 days and an annual return of around 3.5%. The issuer has an AA- credit rating. Proceeds will be used for hedging and investment in financial products.
This unlisted bond is not protected by the Depositor Protection Act. Early redemption may result in principal loss, and default by the issuer exposes investors to full principal risk.
If total subscriptions fall below KRW 1 billion, the issuance may be cancelled with a refund without interest. The issuer acts as calculation agent, creating potential conflicts of interest, but commits to fair evaluation in good faith.
Daishin Securities' credit rating of AA- was confirmed by Korea Ratings, NICE Investors Service, and Korean Credit Rating between April and June 2026.
[AI Summary]This DLB issuance represents debt financing with no equity dilution, neutral to shareholder value. The use of proceeds for routine hedging is typical. While the issuer's credit quality is strong, the unlisted nature and early redemption risks pose investment risks. Overall impact on shareholder value is limited.