Mastern Asset Management Issues ESG Bonds Worth 20 Billion KRW

[Asia Economy Reporter Minji Lee] Mastern Asset Management announced on the 29th that it will issue ESG (Environmental, Social, and Governance) bonds.

The issuance amount of Mastern Investment Management's "2nd Unsecured Bond (Sustainability Bond)" is a total of 20 billion KRW, with maturity at the end of June 2023. The coupon rate is 3.8%, and the lead underwriter is Shinhan Financial Investment.

ESG bonds are classified into Green Bonds, Social Bonds, and Sustainability Bonds. The ESG bonds introduced this time by Mastern Investment Management belong to the Sustainability Bond category. Sustainability Bonds have a hybrid nature, combining Green Bonds focused on eco-friendly projects and Social Bonds aimed at creating social value.

This bond received an ESG certification rating of ST1 from Korea Ratings (KR). This is the highest rating among KR's Sustainability Bond evaluation grades, indicating a high proportion of bond issuance proceeds used for eligible projects, and excellent project evaluation and selection procedures, as well as management systems for the procured funds.

The bond issuance proceeds will be invested in green project areas such as eco-friendly building construction and social project areas such as youth rental housing construction. All projects planned for investment with the funds raised through Mastern Investment Management's Sustainability Bonds align with the 11th United Nations Sustainable Development Goal (UN SDGs), "Sustainable Cities and Communities."

Meanwhile, Mastern Investment Management has newly established an ESG Committee (Chairman Min Seonghun), the highest decision-making body related to ESG within the company that formulates company-wide ESG policies, directly under the board of directors, and recently held the first ESG Committee meeting, signaling the start of full-scale ESG management.

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