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[Alpha Biz=(Chicago) Reporter Paul Lee] LS Cable & System raised nearly five times the amount of funds raised in the demand forecast for public corporate bonds.
According to the investment banking (IB) industry on the 17th, LS Cable, which has a credit rating of 'A+', received a total of 430 billion won in purchase orders in a demand forecast to issue a total of 90 billion won worth of non-guaranteed bonds.
205 billion won was spent on raising 60 billion won for two-year and 30 billion won for three-year. It is said that it can be issued up to 180 billion won, so the increase is also under consideration.
The additional interest rate based on the recruitment amount is -1bp for two-year products (1bp=0.01% point) and -28bp for two-year products. LS Cable will use the funds in 2019 and 2021, respectively, to repay a total of 140 billion won in corporate bonds due early next year. The interest rate on corporate bonds to be repaid was between 1% and 2%, but the interest rate on corporate bonds issued this time is expected to be around 5%.
On the 13th, LS Cable's two-year corporate bonds and three-year public interest rates were 5.05% and 5.285%, respectively. If the public interest rate remains at the current level until the 18th, when the level of issuance interest rate is determined, the final issuance rate will be about 5.04% for two-year and 5.005% for three-year.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
