Mirae Asset Securities Reports Issuance Results for Series 4028 and 4029 Equity-Linked Bonds with Modest Fundraising for Hedging
Mirae Asset Securities has completed the issuance of its Series 4028 and 4029 Equity-Linked Bonds ELBs.
Series 4028 saw subscriptions of 529,450,000 KRW against a planned offering of 5,000,000,000 KRW, achieving a subscription rate of 10.58 percent. Series 4029 received subscriptions of 705,510,000 KRW against a planned 20,000,000,000 KRW, a subscription rate of 3.52 percent.
The proceeds will be used for hedging activities including purchases of high-grade bonds and derivative transactions to ensure stable repayment at maturity.
This issuance was conducted through direct offering by the issuer with no underwriters involved.
The total raised amount of approximately 1.2 billion KRW is negligible relative to market capitalization, resulting in minimal dilution for existing shareholders.
[AI Summary]Mirae Asset Securities utilized a small-scale ELB issuance to secure funds for hedging operations, reinforcing financial stability. Low subscription rates limited capital raised but posed no adverse impact on existing shareholders. The issuance purpose centers on investor protection and risk management, imposing no burden on creditworthiness.