[Alphabiz=(Chicago) Reporter Kim Jisun] Hyosung Chemical (A), which appeared in the public offering market as its first A-class corporate bond this year, suffered the disgrace of not selling its first demand forecast this year. On the other hand, nearly 4 trillion won was attracted to LG Chem (AA+), an AA-class blue-chip bond that conducted demand forecasts together. Since the beginning of the year, the polarization of blue-chip and non-performing bonds has been extreme.
According to the financial investment industry on the 17th, Hyosung Chemical made a demand forecast for a total of 120 billion won, including 70 billion won for 1.5 years and 50 billion won for two years, with a total of 70 billion won in orders. With the non-sale of 50 billion won, Hyosung Chemical will start additional recruitment for the unsold volume.
If you look at the content, it is more pessimistic. The 70 billion won order was also supported by the Korea Development Bank. Hyosung Chemical was initially supported by the Korea Development Bank to buy some supplies if there was no sale in its demand forecast, which was all it had entered into its demand forecast. As Hyosung Chemical's credit rating is Class A, the bond market stabilization fund, which can only contain Class AA, also failed to operate.
Hyosung Chemical presented an interest rate of -50bp (Basys Point, 1bp = 0.01% point) to +100bp in this demand forecast, but was shunned by the market. The financial burden seems to have played a negative role in Hyosung Chemical's demand forecast.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
