Samsung C&T to raise up to $414 mil in bond sale Korean builder to launch bookbuilding process later this month
Translated by Kim So-in 공개 2022-03-03 08:13:39
이 기사는 2022년 03월 03일 08:03 thebell 에 표출된 기사입니다.
South Korea’s Samsung C&T, the construction unit of Samsung Group, will tap the nation’s public bond market to raise up to 500 billion won ($414 million) in a bond issuance.The company plans to raise up to 500 billion won by issuing its bonds in April to use the proceeds as working capital, according to industry sources. The company has discussed details of the issuance with domestic major brokerage firms including KB Securities and NH Investment & Securities.
Samsung C&T plans to raise 200 billion-300 billion won in the planned bond sale, which is highly likely to consist of bonds with 3-year and 5-year maturities. It may increase the offering to up to 500 billion won if it attracts strong demand in its bookbuilding process slated for late March.
Samsung C&T has raised about 500 billion won on average almost every year since 2013. In November 2020, the company raised 250 billion won in bonds with 3-year and 5-year maturities. The company will tap the public bond market 1.5 years after its latest issuance, possibly aiming to pre-hedge risks amid rising interest rates.
Korea Ratings and NICE Investors Service gave the highest possible AA+ rating with a Stable outlook on the company in November 2020. (Reporting by Cheol Kang)
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