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[Alpha Biz=(Chicago) Reporter Paul Lee] Samsung Securities, which launched its second public offering of corporate bonds this year after Mirae Asset Securities, succeeded in receiving funds eight times the amount of its demand forecast.
According to the investment banking (IB) industry on the 19th, Samsung Securities received a total of 1.6 trillion won in purchase orders in its forecast for 200 billion won worth of corporate bonds. The two-year maturity amounted to 640 billion won for 70 billion won and 960 billion won for 3-year products.
Samsung Securities offered interest rates adding -30-30bp (1bp=0.01 percentage points) to individual private interest rates (unique interest rates of companies assessed by private bond rating agencies) to the range of desired interest rates, with two-year ones filled at the 0bp level and three-year ones at the -2bp level. In the case of the three-year product, many investors wanted to buy it more expensive than the price of Mirae Asset Securities' corporate bonds assessed by the market.
Samsung Securities is considering issuing up to 400 billion won on the 25th on the back of demand forecasts. The funding will be used to repay debts worth 200 billion won, which expires early next month.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
