KB Securities Confirms $300 Million Eurobond Issuance

KB Securities has confirmed the issuance of a $300 million (approximately 417.3 billion KRW) Eurobond. This marks its return to dollar bonds five years after first entering the public Korean bond market in 2021. On the 20th, KB Securities completed the procurement of 3-year fixed-rate bonds (RegS) through a book-building process conducted in Asia and Europe. The spread was set at a level 85 basis points above the yield of U.S. Treasury bonds with the same maturity. The initial proposed spread was 115 basis points, but the issuance conditions were lowered following demand forecasts. The key variable for this issuance is the flow of the U.S. Treasury market, as the U.S. Treasury has indicated it may conduct a buyback of up to $38 billion in non-benchmark securities for liquidity support. After the announcement of the U.S. long-term Treasury buyback, KB Securities expedited the issuance timing by taking advantage of a stable interest rate period in the Asian market. The Korean bond market has recently seen a slowdown in buying momentum, and KB Securities holds an A-grade credit rating. This deal was managed by ANZ, Citigroup Global Markets Securities, HSBC, and the Korea Development Bank. With the new dollar bond issuance, KB Securities has secured funds to meet maturity requirements and reaffirmed its investor base in the public dollar bond market.

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