Hanwha Investment & Securities Completes Issuance of Smart DLB No. 563 Raising 12.5 Billion Won for Hedging Operations
Hanwha Investment & Securities completed the issuance of Hanwha Smart DLB No. 563 derivative-linked bonds, raising 12.466 billion won from an offering of 20 billion won, achieving a subscription rate of 62.33%.
The proceeds will be used for hedging transactions and managing investments in similar securities and derivatives based on the 3-month Korean Treasury bond rate.
The DLB offers a pre-tax yield of 3.30% to 3.31% per annum depending on the underlying rate at maturity.
[AI Summary]This non-equity issuance does not dilute existing shareholders. Funds are allocated to standard hedging operations, representing a routine activity with no transformational impact. The issuer's credit quality remains stable as a subsidiary of Hanwha Group.