[Asia Economy Reporter Ki Ha-young] KB Kookmin Card announced on the 22nd that it has additionally issued 150 billion KRW of 'Environmental, Social, and Governance (ESG) bonds' aimed at financial support for small and medium-sized merchants.
The bonds issued this time are special purpose bonds used for eco-friendly or social value creation, and KB Kookmin Card previously issued 100 billion KRW worth of 'ESG bonds' in June.
The issuance scale consists of ▲50 billion KRW bonds maturing in 1 year and 7 months ▲50 billion KRW bonds maturing in 2 years and 10 months ▲50 billion KRW bonds maturing in 4 years, totaling 150 billion KRW, and the funds raised will be used for early payment of credit sales proceeds to small and medium-sized merchants.
The coupon rates are 1.059% per annum for the 1 year 7 months bond, 1.324% for the 2 years 10 months bond, and 1.522% per annum for the 4 years bond.
A KB Kookmin Card official explained, "This additional issuance of 'ESG bonds' was issued at a level lower than the market average interest rate based on excellent credit ratings and high asset soundness, and it is also competitive compared to the bond rates issued in June."
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