Mirae Asset Securities Issues 10 Billion KRW in ELBs Linked to KOSPI200 and SK Hynix, Principal-Protected Structure Without Shareholder Dilution
Mirae Asset Securities issues 10 billion KRW in Equity-Linked Bonds ELB Series 4021. The underlying assets are the KOSPI200 Index and SK Hynix common stock, with a maturity of July 16 2029.
These principal-protected bonds guarantee at least the principal at maturity or upon early redemption, and pay monthly coupons of 0.8125% per annum 9.75% if both underlying assets remain above 70% of their initial levels.
The issuer holds an AA credit rating from major Korean agencies, and the proceeds will be used for hedging and financial investment, reflecting a standard capital allocation strategy.
This issuance is a non-equity-linked debt instrument, so there is no dilution of existing shareholders whatsoever.
[AI Summary]Mirae Asset Securities with an AA credit rating issues a small-scale 10 billion KRW principal-protected ELB. The capital allocation is conservative and no shareholder dilution occurs, resulting in a neutral impact on shareholder value.