Korea Expressway Corporation Successfully Issues $500 Million Global Bonds

[Asia Economy Reporter Ryu Tae-min] Korea Expressway Corporation has successfully issued global bonds worth 500 million dollars.

On the 12th, Korea Expressway Corporation announced that it successfully issued global bonds worth 500 million dollars (approximately 637.5 billion KRW) this morning. The bond interest rate was set at 3.625% per annum. This is 0.35 percentage points lower than the initially proposed rate of the 3-year U.S. Treasury bond yield plus 1.2%.

Despite difficult investment conditions such as the U.S. stock market crash, Korea Expressway Corporation succeeded in issuing global bonds for the second consecutive year following last year. In particular, based on stable cash flow, it attracted investment demand up to 3 billion dollars, which is six times the issuance amount of 500 million dollars. Among these, Asian investors accounted for 64%, Europe 25%, and the U.S. 11%.

By investor type, asset management companies accounted for 38%, central banks and sovereign wealth funds 31%, banks 16%, insurance companies 13%, and other investors 2%, securing the maximum proportion of central banks and sovereign wealth funds, which are regarded as high-quality investors.

A Korea Expressway Corporation official said, “Despite the recent severe volatility causing a contraction in investment sentiment, successful fundraising was possible through monitoring the global financial market,” and added, “We once again confirmed the high trust and support of investors from Asia, Europe, and the U.S.”

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