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Lotte Corp to issue three-year Samurai bond Bond backed by KB Kookmin Bank will be issued via private placement

Translated by Kim So-in 공개 2021-10-22 08:19:46

이 기사는 2021년 10월 22일 08:10 더벨 유료페이지에 표출된 기사입니다.

Lotte Corp plans to issue a three-year yen-denominated Samurai bond through a private placement.

The company plans to run a bond pricing process on Thursday, according to industry sources. It is expected to negotiate prices with a number of institutional investors given that the bond will be issued through a private placement. The company’s propose spread is likely to be 33 basis points above the Tokyo overnight average rate (TONA) mid-swaps. SMBC Nikko is solely managing the bond sale.

Backed by KB Kookmin Bank, the Samurai bond has received an Aa3 rating from global credit rating agency Moody’s. The rating is significantly high given that domestic companies normally have BBB ratings.

Market insiders are paying attention to whether Korean companies will resume selling Samurai bonds, starting with Lotte Corp’s planned private bond placement. The Samurai bond issuance has been halted since KT sold its Samurai bond in 2019. (Reporting by Hye-rim Pi)
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