DB Securities Issues 2 Billion Won of 146th DLB, No Share Dilution and Funds Used for Hedging

DB Securities submitted an additional registration statement on July 9, 2026 for the issuance of DB Dream Big Series 146 Derivative-Linked Bond DLB Grade 5 Low Risk worth 2 billion won.
The underlying asset is the 3-month treasury bond rate, with a 1-year maturity. At maturity, if the rate is 10% or more, a pre-tax return of 6.01% per annum is paid; if less, 6.00% per annum, in a principal-protected structure.
The raised funds of 2 billion won will be used for underlying asset transactions, derivative hedging, and financial investment products. There is no change in equity capital, so no dilution risk for existing shareholders.
DB Securities holds an A+ stable credit rating from NICE, Korea Ratings, and Korea Investors Service, indicating strong solvency.
This security is not protected by the Depositor Protection Act and is unlisted, posing potential principal loss upon early redemption.
For 2025 standalone basis, net profit was 53.5 billion won, operating profit 71.6 billion won, and earnings per share 1,333 won. The 2025 dividend per share was 550 won, up from 400 won the previous year.
[AI Summary]The issuance of the 146th DLB by DB Securities is a routine debt financing with no equity dilution. Funds are used for hedging and investment, limiting direct impact on shareholder value. The A+ stable credit rating lowers credit risk, but investors should note the lack of deposit protection and liquidity risk from the unlisted nature, making it a neutral event overall.