[Edaily Marketin LEE GEON-EOM Reporter] LS SECURITIES(078020)The company successfully secured the desired amount of funds by raising significantly more than its target amount during the bookbuilding process for its corporate bonds. The spread also reached a level similar to the market average for that credit rating, meeting market expectations and resulting in a solid outcome.

According to the financial investment industry on the 14th, LS SECURITIES received a total of 464 billion won in orders during the bookbuilding for its 70 billion won unsecured corporate bond offering held that day. By maturity, 212 billion won was allocated to the 1.5-year bond (targeted at 40 billion won), and 252 billion won to the 2-year bond (targeted at 30 billion won).

NH INVESTMENT & SECURITIES, KB Securities, and KIWOOM Securities served as lead underwriters for this corporate bond issuance. Based on the results of the bookbuilding, the company has left open the possibility of increasing the offering size by up to 140 billion won.

With demand nearly seven times the target amount, interest rates were set at moderate levels. Based on the target amount, the expected spread is estimated at minus (-) 1 bp (1 bp = 0.01 percentage point) for the 1.5-year bond and at the market average (Par, 0 bp) for the 2-year bond. LS SECURITIES had initially proposed a spread band of -30 bp to +30 bp relative to the arithmetic mean of the market average yields for both the 1.5-year and 2-year bonds.

Since the spread settled at the market average level, the issuance is viewed as having secured stable funding in line with market expectations.

The market views LS SECURITIES’ bookbuilding process as having comfortably met its target volume, thereby securing the funds needed to repay its upcoming debt obligations without a hitch. LS SECURITIES plans to use the funds raised from this corporate bond issuance to repay commercial paper (CP) and electronic short-term bonds maturing at the end of this month and early next month.