Goryeo Zinc Issues 700 Billion Won in Corporate Bonds... Fully Subscribed Despite Doubling Issuance

2.55 Trillion Won in Bids for 350 Billion Won Offering
Entire Proceeds to Be Used for Debt Repayment

On October 29, Goryeo Zinc announced that it had completed fundraising by issuing its 13th corporate bond series worth 700 billion won. Initially, the company planned to raise 350 billion won, but after a demand forecast for institutional investors on October 21 attracted 2.55 trillion won, the issuance was increased.

Goryeo Zinc Headquarters, Jongno-gu, Seoul. Goryeo Zinc

A representative from Goryeo Zinc stated, "The successful issuance of the corporate bonds reconfirmed investors' favorable assessment of the current management's efforts to enhance corporate value, along with a positive evaluation of the company's stability and future growth potential." The representative added, "Investor expectations for strategic minerals and new businesses such as the Troika Drive initiative also contributed to the strong demand in the bond market."

This corporate bond consists of a 3-year tranche (13-1) worth 350 billion won and a 5-year tranche (13-2) worth 350 billion won. Goryeo Zinc increased the total issuance to 700 billion won, double the originally planned 350 billion won.

The entire amount raised will be used for debt repayment. The company plans to use the funds to repay 600 billion won in trade finance and 100 billion won in short-term bonds, thereby further strengthening its financial stability.

Meanwhile, as of the second quarter, Goryeo Zinc achieved 102 consecutive quarters of operating profit. In the first half of this year, the company's consolidated sales reached 7.6582 trillion won, a 40.9% increase (2.2246 trillion won) compared to 5.4335 trillion won in the same period last year. Operating profit also rose by 16.9% (76.7 billion won) to 530 billion won from 453.2 billion won in the same period last year.