Dongyang Life, Global Capital Magazine's 'Asia Best Financial Bond' Selected

3 Billion USD Overseas New Capital Securities Issued Last September Selected as 'Asia's Best Financial Bond'

[Asia Economy Reporter Ki Ha-young] Dongyang Life Insurance announced on the 14th that its $300 million overseas hybrid capital securities issued last September were selected as the 'Best Financial Bond in Asia' by Global Capital, a global financial magazine.

Global Capital is an authoritative publication covering capital market issues and annually selects and awards the best cases in various fields including bonds, stocks, and investment banking across the Asian financial market through the 'Global Capital Asia Awards.' Among them, Dongyang Life Insurance's issuance of overseas hybrid capital securities was chosen as the 'Best Financial Bond in Asia' case.

Dongyang Life Insurance successfully issued $300 million of overseas hybrid capital securities in the Asian market last September. Notably, during the pre-subscription, demand forecasts exceeded three times the total planned amount. Global Capital highly evaluated Dongyang Life Insurance for successfully debuting in the overseas bond market despite difficult market conditions such as the COVID-19 pandemic and for resuming the issuance of insurance company hybrid capital securities in the Korean bond market, where there had been no issuance since 2018.

Additionally, prior to issuance, Dongyang Life Insurance actively conducted investor roadshows to enhance investors' understanding of the domestic insurance industry and Dongyang Life's credit, and was recognized for transparently communicating various regulatory environments such as International Financial Reporting Standards (IFRS 17) and the Korea Insurance Capital Standard (K-ICS). Global Capital forecasted that following Dongyang Life Insurance's successful overseas hybrid capital securities issuance, subsequent issuances by latecomers would follow since 2021.

This deal marks Dongyang Life Insurance's first overseas capital securities issuance and is also the first overseas capital securities issuance by a domestic company excluding public enterprises since the outbreak of COVID-19.

A Dongyang Life Insurance official stated, "Despite difficult conditions due to COVID-19, this result was achieved through stable financial soundness and continuous communication with investors via various IR activities such as non-face-to-face roadshows," adding, "We will continue to do our best to enhance corporate value."

This content was produced with the assistance of AI translation services.