Kyobo Securities Finalizes Low-Demand Issuance of Equity-Linked Derivative Bonds; Proceeds Allocated for Hedging
Kyobo Securities completed the issuance of series 50262 and 50263 equity-linked derivative bonds, raising 179,840,000 won and 277,620,000 won respectively.
Actual proceeds of approximately 457 million won were far below the combined target of 20 billion won, with subscription rates of only 1.80% and 2.78%.
These non-listed low-risk securities are linked to the KOSPI200 index and feature automatic early redemption options.
Proceeds will be used for hedging purposes related to underlying assets and derivatives.
[AI Summary]Kyobo Securities issued two series of ELD bonds with negligible capital raised due to low demand; the move is routine and does not impact shareholder value or equity dilution.