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[Alpha Biz=(Chicago) Reporter Kim Jisun] The repayment date of the warrant bond (BW) of Hanjin KAL, the holding company of Hanjin Group, is about a month away. Of the 300 billion won worth of BWs issued three years ago, 130 billion won must be repaid by early July.
Some say that Hanjin KAL is going to issue BW once again to raise funds. This is because Hanjin KAL's cash situation is not enough and large-scale borrowing will be burdensome at a time when high interest rates continue.
Hanjin KAL also passed an agenda to double the BW limit through a shareholders' meeting in March. In other words, the government has left more windows open for financing at a time when its financial strength has fallen significantly.
Hanjin KAL issued BW worth 300 billion won in July 2020 through a public offering. The surface interest rate is 2.0% and the maturity rate is 3.75%, which is expected to mature on July 3. Of the 300 billion won raised at the time, Hanjin KAL spent 200 billion won on capital increase of Korean Air and the remaining 100 billion won on repaying borrowings.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
