Koramco Life Infra REIT Borrows 20 Billion Won for Refinancing of Short-Term Bonds via Subordinated Secured Loan
Koramco Life Infra REIT disclosed that it will execute a subordinated secured loan of 20 billion won to refinance existing short-term bonds of 105 billion won.
The borrowing is from Suhyup Bank at a fixed annual rate of 5.8%, for the period from July 13, 2026 to June 2, 2027, secured by its gas station asset.
The loan amount is 4.16% of equity capital of 480.5 billion won, representing a limited financial impact, and the purpose is to extend the maturity of existing debt.
[AI Summary]This is a defensive refinancing of short-term bonds with no shareholder dilution, but incurring interest costs. Counterparty risk is low due to Suhyup Bank's high creditworthiness.