Last Year ELS Issuance Amount 69 Trillion Won '30%↓ YoY'... Redemption Amount 23%↓
[Asia Economy Reporter Lee Seon-ae] The issuance amount of ELS (including ELB) in 2020 was recorded at 69 trillion KRW, a 30.9% decrease compared to the previous year (99.9 trillion KRW).
According to the Korea Securities Depository on the 22nd, by issuance type, public offerings accounted for 83.9% (57.8893 trillion KRW) of total ELS issuance, while private placements accounted for 16.1% (11.144 trillion KRW). The amount of public offerings decreased by 32.4% compared to the previous year (85.621 trillion KRW), and private placements decreased by 22.0% compared to the previous year (14.2801 trillion KRW).
The issuance amount of ELS based on the domestic index (KOSPI200) was 28.1 trillion KRW, an increase from the previous year (24.6 trillion KRW). On the other hand, major overseas indices such as the S&P500 and EUROSTOXX50 recorded 36.6 trillion KRW and 31.1 trillion KRW respectively, both decreasing compared to the previous year (61.3 trillion KRW, 65.6 trillion KRW).
By securities company, in 2020, Mirae Asset Daewoo had the largest ELS issuance amount at 11.8725 trillion KRW. The combined ELS issuance amount of the top five companies?Mirae Asset Daewoo, KB Securities, Korea Investment & Securities, NH Investment & Securities, and Samsung Securities?was 40.6639 trillion KRW, accounting for 58.9% of total ELS issuance.
The redemption amount of ELS (including ELB) in 2020 was 78.5 trillion KRW, a 23.0% decrease compared to the previous year (101.9 trillion KRW). Among redeemed ELS, early redemption accounted for the largest portion at 51.8 trillion KRW (66.0% of ELS redemptions), followed by maturity redemption (24.3 trillion KRW, 31.0% of ELS redemptions) and mid-term redemption (2.3 trillion KRW, 3.0% of ELS redemptions).
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As of the end of 2020, the outstanding balance of unredeemed ELS issuance was 61.4 trillion KRW, a 13.6% decrease compared to the previous year (71 trillion KRW).
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