[Edaily Marketin KIM YEON-SEO Reporter] DaishinSecurities (AA-) achieved a successful offering, raising more than 10 times the target amount during the bookbuilding process for its public corporate bond offering. By filling the offering at a rate more than 10 basis points lower than the average yield set by individual private bond rating agencies across all maturities, the company also reduced its funding costs.

According to the investment banking (IB) industry on the 1st, DaishinSecurities conducted a bookbuilding process targeting institutional investors for the issuance of corporate bonds totaling 150 billion won and received orders totaling 1.59 trillion won. This represents 10.6 times the target amount.

By tranche (maturity), orders totaling 820 billion won were received for the 2-year tranche (70 billion won target), and 770 billion won for the 3-year tranche (80 billion won target). All orders fell within the target yield band.

The yield spread, based on the offering amount, was 10 basis points (1 bp = 0.01 percentage point) below the individual market average rate for the 2-year bonds and 11 basis points below for the 3-year bonds. Both maturities recorded double-digit under-yields, confirming strong investor demand.

Based on the results of this bookbuilding, DaishinSecurities plans to consider increasing the issuance amount by up to 300 billion won. The scheduled issuance date for the corporate bonds is the 10th. The lead underwriters are NH INVESTMENT & SECURITIES, KB Securities, Korea Investment & Securities, Shinhan Investment & Securities, and SamsungSecurities.