Hanyang Securities Issuances Cost 4.62%, Up 47bp vs Peer Rivals on July 28

According to Yonhapinfomax, Hanyang Securities issued 300 billion won in 3-month short-term debt on July 28 at a 4.62% rate, substantially higher than peers with identical or lower credit ratings. Competitors with A2- ratings issued comparable maturities at 4.15%-4.45%. Market analysts attributed the elevated costs to headline risk from Hanyang Securities' exposure to the Central Group restructuring crisis, which has dampened investor appetite despite management's assertion that related assets are adequately collateralized.
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