[Asia Economy Reporter Kangwook Cho] KB Capital announced on the 22nd that it has issued foreign currency bonds worth 300 million dollars (approximately 340 billion won) for the first time since its establishment.
According to KB Capital, the foreign currency bond offering received cumulative orders amounting to four times the issuance amount. Based on this, the bonds were issued at a spread of 120 basis points (bp), which is 30 bp lower than the initial spread of 150 bp (1 bp = 0.01 percentage points).
KB Capital explained that this foreign currency bond issuance is significant in diversifying its funding channels.
KB Capital plans to use the funds raised through this foreign currency bond issuance to support the growth of its local subsidiaries in Laos, 'KB KOLAO Leasing,' and in Indonesia, 'Sunindo Kookmin Best Finance.'
Hwang Su-nam, CEO of KB Capital, stated, "This foreign currency bond issuance has diversified our funding methods in preparation for sustainable growth and strengthened financial stability, laying the foundation for growth as a global specialized credit finance company. Taking this opportunity, we will accelerate KB Financial Group's New Southern Policy strategy and make every effort to establish it as a successful model for the group."
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