LG Uplus (credit rating AA) secured over 3 trillion won in the corporate bond demand forecast. This indicates that demand exceeded 10 times the募集 amount.
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On the 10th, according to the financial investment industry, LG Uplus sought to raise a total of 300 billion won and received buy orders amounting to 3.5 trillion won. For the 3-year issue of 150 billion won, it attracted orders worth 1.57 trillion won, for the 5-year issue of 100 billion won, 1.08 trillion won, and for the 7-year issue, it secured 400 billion won.
LG Uplus presented interest rates of -30 to +30 basis points (1 bp = 0.01 percentage point) compared to individual market rates, achieving -12 bp for the 3-year issue, -8 bp for the 5-year issue, and -15 bp for the 7-year issue. This suggests that there were many investors willing to pay more than the market-evaluated price.
Following the success of the demand forecast, LG Uplus is reportedly considering an increase in the corporate bond issuance to a maximum of 600 billion won. The funds raised through the corporate bond issuance will be used to repay the existing public offering bonds amounting to 480 billion won, which are set to mature at the end of January.
The bond issuance is scheduled for the 20th. The lead underwriters are five major securities firms: KB Securities, NH Investment & Securities, Mirae Asset Securities, Korea Investment & Securities, and Shinhan Investment Corp., with Daishin Securities, Hana Securities, LS SECURITIES, and IM participating as co-underwriters. These nine securities firms will also handle the underwriting tasks.