SK Innovation's lubricant business subsidiary SK Enmove raised 2 trillion won in a corporate bond demand forecast.
On the 21st, according to the investment banking (IB) industry, SK Enmove received 19.9 trillion won in purchase orders for a total of 1.5 billion won, comprising 600 million won for 3-year bonds, 600 million won for 5-year bonds, and 300 million won for 10-year bonds.
For the 3-year bond offering, 850 million won was raised, while 780 million won was raised for the 5-year bond. Orders for the 10-year bond amounted to 360 million won. This is SK Enmove's second time issuing 10-year bonds this year.
SK Enmove offered an interest rate based on the average interest rate of individual private bond evaluation companies (market average rate) of minus (-) 30 to plus (+) 30 basis points (1 basis point = 0.01 percentage point). The 3-year bond was set at -20 basis points, the 5-year bond at -19 basis points, and the 10-year bond at -50 basis points.
The bond issuance date is March 4. SK Enmove is considering a maximum increase of 300 billion won.
SK Enmove was established in 2009 when SK Energy's lubricant business sector was physically divided. It produces some lubricant products focused on base oil, the main raw material for lubricants. In November last year, it selected Mirae Asset Securities and Korea Investment & Securities as the lead underwriters for its initial public offering (IPO).