Mirae Asset Securities Reports Issuance Results for Series 4021 ELB, Raises 3.5 Billion Won with 35.46% Subscription Rate
Mirae Asset Securities completed the issuance of its Series 4021 Equity-Linked Bond ELB and filed the performance report.
Against the initial target of 10 billion won, actual funds raised were 3.546 billion won, reflecting a subscription rate of only 35.46% indicating subdued demand.
The proceeds will be used for hedging transactions including purchases of high-quality bonds and derivatives to ensure stable repayment at maturity.
The ELB has a three-year maturity and pays a monthly coupon of 0.8125% per annum 9.75% if both underlying assets KOSPI200 and SK Hynix common stock stay above 70% of the initial strike price while principal is protected.
[AI Summary]This small-scale bond issuance by Mirae Asset Securities has negligible impact on shareholder value. The low subscription rate indicates weak investor demand but does not materially affect the company's financial position.