Ssangyong C&E "Achieves Full Subscription with Additional Public Bond Offering"

1 Trillion KRW Subscription Draws 1.02 Trillion KRW Funds
700 Billion KRW Issued for 2-Year Bonds, 300 Billion KRW for 3-Year Bonds

Ssangyong C&E announced on the 21st that it achieved a full subscription through additional bidding in the public bond market.

A Ssangyong C&E official explained, “As a result of conducting additional bidding targeting institutional investors for the 326th public bond, which had some unsold portions after the demand forecast, the entire amount was absorbed by the market. A total of 102 billion KRW was raised against the 100 billion KRW target, and ultimately, 70 billion KRW of 2-year bonds and 30 billion KRW of 3-year bonds were issued.”

It was understood that many orders from securities firms’ retail-related departments were placed in the additional bidding for the public bonds. The demand forecast for the public bonds conducted on the 13th coincided with the period of the U.S. Federal Open Market Committee (FOMC) announcement, and due to concerns about increased market interest rate volatility, some investors did not participate in the demand forecast, resulting in partial unsold 2-year bonds.

A Ssangyong C&E official stated, “It is estimated that investors who showed interest in Ssangyong C&E’s public bonds participated in the additional bidding as market interest rate volatility eased after the first demand forecast. This is because the investment profitability stood out compared to Ssangyong C&E’s financial stability and profitability, allowing successful absorption in the market,” he said.

Ssangyong C&E plans to use all the funds raised through this successful public bond issuance for debt repayment.

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