Hanwha Total issues its first overseas bond worth $400 million
Hanwha Total issues its first overseas bond worth $400 million
  • Kim Min-jee
  • 승인 2019.01.21 13:33
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Hanwha Total announced on Jan. 20 that it has succeeded in issuing $400 million (about 450 billion won) in overseas bonds. The issuance of overseas bonds is the first time since its establishment. The fund will be used to extend its plant in Daesan, South Chungcheong Province.

Hanwha Total has decided to invest 1.43 trillion won in its plant in Daesan, South Chungcheong Province by 2020. It is pushing to increase the production of ethylene, polyethylene and polypropylene to 460,000 tons, 400,000 tons and 400,000 tons, respectively.

Hanwha Total's overseas corporate bonds are subject to Asian and European investors, and its issuance interest rate is 3.914 percent. The issuance date is Jan. 23.

Prior to issuing bonds, Hanwha Total was rated as "stable" with its credit rating of Baa1 and BBB given by Moody's and Standard & Poor's, respectively, on Jan. 2. 

"Despite the global economic downturn, the trend of upward interest rate, and the overall downward status of the petrochemical industry, the company's future growth and ability to generate sustainable profits have been positively appreciated by market investors," a Hanwha Total official said.

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