Daewoo E&C announced on the 30th that it successfully issued a green bond worth $245 million (approximately 3.515 billion won) on the 28th.
A green bond is a bond that utilizes raised funds for eco-friendly projects, and the green bond issued by Daewoo E&C this time was issued in foreign currencies targeting global investors.
This green bond was underwritten by Mizuho Securities Asia. Originally starting the recruitment with a size of $100 million, the final issuance size was confirmed at $245 million due to strong interest from global investors.
The raised funds will be used for eco-friendly projects, including ▲renewable energy ▲green buildings ▲energy efficiency ▲sustainable water resources and water management ▲eco-friendly transportation ▲circular economy and eco-friendly products, production technologies, and processes. The maturity is three years from the issuance date.
A representative of Daewoo E&C noted, "This green bond has once again proven that Daewoo E&C's sustainable management strategy is trusted by foreign investors," adding that "it will serve as an opportunity to enhance trust and strengthen positioning in domestic and international financial markets."
In May 2023, Daewoo E&C successfully issued a Sukuk, the first Islamic bond by a domestic company, and last year issued a bond fully guaranteed by the Credit Guarantee and Investment Facility (CGIF) under the Asian Development Bank, becoming the first domestic construction company to do so.
A representative of Daewoo E&C said, "We will continue to lead a stable funding system through diversification of procurement routes using various financial products both domestically and abroad."