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Report: KB Securities to issue 300B won of bonds

KB Securities Co. Ltd. plans to issue 300 billion South Korean won of bonds in two tranches, The Financial News reported Feb. 20, citing industry sources.

The company will issue a 150 billion won tranche of three-year bonds and a 150 billion won tranche of five-year bonds, the sources said.

If the issuance proceeds, it would be the brokerage's first bond issuance since Hyundai Securities' merger with KB Investment & Securities in January 2017, with the merged entity being renamed KB Securities.

A KB Securities official cited debt rollover as the primary purpose of the bond issuance, the publication reported. About 250 billion won of bonds issued by Hyundai Securities in 2013 will mature on March 21 and March 22.

South Korean securities companies are increasingly issuing bonds to boost their capital base for expanded investment banking operations.

KB Securities is a unit of KB Financial Group Inc.

As of Feb. 20, US$1 was equivalent to 1,073.30 South Korean won.