Busan Port Authority Successfully Issues 130 Billion KRW ESG Social Bonds ... Totaling 200 Billion KRW

Busan Port Authority.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan Port Authority (BPA) announced on the 15th that it has successfully issued social bonds worth 130 billion KRW to be used for the Busan Port North Port Redevelopment Project.

The social bonds issued this time were awarded through a public competitive bidding process on the Bondweb electronic bidding system on the 14th, totaling 130 billion KRW, including 60 billion KRW with a 5-year maturity and 70 billion KRW with a 30-year maturity, both below the market interest rate.

Starting with the issuance of 70 billion KRW in social bonds on the 8th, the cumulative amount of social bonds issued to date is 200 billion KRW. All were successfully issued below the market interest rate.

BPA established a management system that complies with the government guidelines and the International Capital Market Association (ICMA) social bond standards, and conducted evaluation verification by the external certification agency Korea Credit Rating.

Accordingly, the social bonds received the highest evaluation grade of ‘SB1,’ enhancing bond transparency and investor confidence.

BPA plans to use all funds raised from the social bond issuance for the Busan Port North Port Redevelopment Project (Phase 1), Korea’s first port redevelopment project and a Korean New Deal national project.

Going forward, BPA will thoroughly manage the funds transparently and conduct post-disclosure in accordance with the ESG fund management system.

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