Daishin Securities Issues 403rd and 404th DLB Totaling 20 Billion KRW with Limited Shareholder Value Impact

Daishin Securities is issuing its 403rd and 404th derivative-linked bonds DLB totaling 19.98 billion KRW, with each tranche at 9.99 billion KRW.
The underlying asset is the 3-month Korean Treasury bond rate, offering an annual yield of 3.5% to 3.71% depending on whether the rate exceeds 6% at maturity.
Proceeds will be primarily used for hedging transactions and investment in financial products.
Daishin maintains a stable credit rating of AA- and these securities are not protected by the depositor protection act.
No treasury stock acquisition or cancellation impacting shareholder returns is announced.
[AI Summary]Daishin Securities issues DLB worth 20 billion KRW for hedging and operational funding without diluting equity, thus limited direct impact on stock price. With a AA- credit rating, issuer risk is low, but investors should note the illiquid nature of this unlisted non-deposit product.