[Alpha Biz=(Chicago) Reporter Kim Jisun] Korea Investment & Securities Co., a subsidiary of Korea Financial Group, said on the 31st that it has succeeded in issuing $400 million worth of foreign currency bonds.

The Korea Investment & Securities Co.'s foreign currency bonds are set at a three-year maturity and are set to add an additional 235bp to the U.S. three-year government bond rate. The first estimated issuance amount was $300 million (about KRW 405.4 billion), but it attracted effective orders worth $2.65 billion from some 170 places in demand forecasts for foreign institutions, resulting in an increase to the final $400 million. Interest rates were also determined at a level about 25bp lower than initial expectations.

Analysts say that the company succeeded in selling foreign currency bonds by drawing investors' trust in its diversified business portfolio and company stability through aggressive road shows ahead of demand forecasts.

Korea Investment & Securities held a local road show for more than 50 institutional investors in Hong Kong and Singapore from 25th to 27th. The issuance of foreign currency bonds was organized by Citigroup Global Market Securities, HSBC· Naticsys Bank and KIS Asia.

Korea Investment & Securities will inject $400 million into expanding the global sector.

 

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