A+ Shinsegae Food Achieves Success in Demand Forecasting

1.95 Trillion Orders for 50 Billion Fundraising

[Asia Economy Reporter Hwang Yoon-joo] Shinsegae Food (A+) has achieved great success in its corporate bond demand forecast. Demand reached about four times the amount of the offering.

According to the investment banking (IB) industry on the 18th, Shinsegae Food received orders totaling 195 billion KRW from a 50 billion KRW demand forecast conducted that day.

The tranche was decided as a single 1.5-year maturity. The interest rate band was set by adding -30bp to +70bp to the individual average market rate, and orders were filled at -10bp based on the offering amount.

Meanwhile, Shinsegae Food plans to use the funds raised this time to refinance 100 billion KRW worth of corporate bonds maturing on the 30th.