HD Hyundai Chemical Secures 363 Billion KRW in Corporate Bond Demand Forecast

Four Times the Target...
"Considering an Additional 150 Billion KRW Issuance"

HD Hyundai Chemical, a petrochemical affiliate of HD Hyundai Oilbank, announced on the 17th that it secured 363 billion KRW in funds, more than four times its target amount of 90 billion KRW, in its first corporate bond demand forecast of the year.

Previously, HD Hyundai Chemical offered interest rates based on the A0 rating individual private bond evaluation company's average rate (Minpyeong rate) of -30bp to +60bp for 2-year bonds and -30bp to +70bp for 3-year bonds, attracting demand of 163 billion KRW for 2-year bonds and 200 billion KRW for 3-year bonds.

Hyundai Chemical Daesan Plant view. Photo by Asia Economy DB

With the successful completion of this demand forecast, HD Hyundai Chemical plans to consider an additional issuance increase of up to 150 billion KRW.

An HD Hyundai Chemical official explained, "The market's trust stemming from HD Hyundai's improved performance and credit rating upgrade, along with HD Hyundai Chemical's superior eco-friendly petrochemical product competitiveness in bio-naphtha and polymers compared to peer petrochemical companies, appears to have had a favorable impact."

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