HD Hyundai Construction Equipment secured more than 11 times the target amount in its corporate bond demand forecast.
According to investment banking (IB) industry sources on the 14th, HD Hyundai Construction Equipment received 6.93 trillion won in buy orders for a total募集of 600 billion won. For the 2-year bond募集of 200 billion won, it received 2.2 trillion won, for the 3-year bond募集of 300 billion won, it received 3.58 trillion won, and for the 5-year bond募集of 1 trillion won, it received 1.15 trillion won.
HD Hyundai Construction Equipment proposed a rate of ±30 basis points (bp; 1 bp = 0.01 percentage point) based on the average rate of individual private bond evaluation companies (the 민평 rate), filling its target amounts with rates of -10 bp for the 2-year bond, -27 bp for the 3-year bond, and -50 bp for the 5-year bond.
HD Hyundai Construction Equipment plans to issue corporate bonds on the 22nd, considering a maximum increase of 120 billion won.
HD Hyundai Construction Equipment was established as a separate entity from HD Hyundai Heavy Industries in April 2017. It produces construction equipment such as large excavators. Last year, the company recorded sales of 3.438 trillion won and an operating profit of 190.4 billion won, marking a 10% and 26% decrease, respectively, compared to the previous year.