Chaean Fund Makes First Capital Injection After Setting Up at Lotte Food
[Asia Economy Reporter Eunmo Koo] The Bond Market Stabilization Fund (BMSF), established to alleviate liquidity tightening in the bond market, selected Lotte Food as its first purchase target and participated in the demand forecast.
According to the financial investment industry on the 6th, the BMSF participated in the demand forecast for Lotte Food's 3-year corporate bonds with a credit rating of 'AA' and placed an order to purchase 30 billion KRW worth of bonds.
Lotte Food initially planned to issue 70 billion KRW worth of bonds, but as the demand forecast participation amount reached 140 billion KRW on the day, it decided to issue 100 billion KRW, exceeding the original plan. The issuance interest rate was set 30 basis points (1bp=0.01 percentage points) higher than the average market interest rate announced by private rating agencies.
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Accordingly, Lotte Food's corporate bonds are scheduled to be issued at an interest rate 30bp above the average market interest rate for 'AA' credit rating as of the day before issuance, on the 12th.
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