By Angela McDaniels
Tacoma, Wash., Feb. 3 – Hanon Systems has issued KRW 300 billion of bonds with maturities of three and five years, according to a company news release.
NH Investment & Securities Co., Ltd. was the lead arranger.
The company increased the size of the offering by KRW 100 billion due to demand, which it said reached KRW 920 billion.
Proceeds will be used to repay maturing debt.
The company said this is its largest bond issuance to date and the second since its placement on the Korea Exchange.
“This was a successful placement in the local market with favorable conditions for our company," Thomas Bum Joon Kim, Hanon Systems chief financial officer, said in the news release.
The company is rated AA0 by KIS Rating and Korea Rating.
Hanon makes automotive thermal solutions and is based in Daejeon, South Korea.
| Issuer: | Hanon Systems
|
| Issue: | Bonds
|
| Amount: | KRW 300 billion
|
| Maturities: | Three years, five years
|
| Lead arranger: | NH Investment & Securities Co., Ltd.
|
| Announcement date: | Feb. 3
|
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