S.Korea’s corporate bond market cools down amid poor earnings

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S.Korea’s corporate bond market cools down amid poor earnings - Korea Economic Daily

Quick Summary:

EcoPro’s two-year debts with a credit rating of A- drew 15 billion won during book building, barely meeting its target offering worth 15 billion won.Korea’s No.1 battery player LG Energy Solution Ltd.sold its debts with a rating of AA at higher coupon rates to attract investors.

The trench of 60 billion won worth of its debts with a three-year maturity sold 20 billion won less.E-Land World Inc., the holding company of Korea’s major retailer E-Land Group, was doomed with institutional investors’ zero bid for 60 billion won worth of its bonds with a 1.5-year maturity.

According to the investment banking industry on Friday, Korea’s top hyper supermarket chain operator E-Mart Inc.attracted 35 billion won ($24.4 million) during book-building sessions for the sale of its bonds with a seven-year maturity earlier this week, falling far short of its original plan to sell 50 billion won worth of bonds.