Naver, KB Card successfully issue foreign currency ESG bonds
Posted : 2021-05-10 09:16
By Anna J. Park
Naver has recently issued an additional $300 million in foreign currency ESG-themed bonds, following its previous issuance of $500 million in foreign currency debt in March.
Naver s successful five-year reopening ― referring to the issuance of additional debt on a previous bond in financial terminology ― of $300 million in foreign currency debt was the first of its kind for a Korean commercial company on the bond market. So far, the reopening of bonds has seen limited use by a few state-run companies or state-run banks here.
The total bond value at $800 million is also the highest among all local companies. The strong trust in the internet-tech giant led to the demand for, and success of, the 2026 maturity bond, which far exceeded Naver s original goal of raising around $200 million.
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