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Kolon Industries to Issue KRW200 Billion in Hybrid Bonds; Shares Rise 4%

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Kolon Industries (KRX:120110) will issue subordinated hybrid bonds with a total face value of 200 billion won through a private placement, according to a Thursday filing with the Korea Exchange.

The bonds have a coupon rate of 6.121% and maturity date of Sept. 18, 2056.

Proceeds from the issuance will be used for the early redemption of privately placed hybrid securities.

Shares of the chemical and textile manufacturing company rose nearly 4% in Friday trade.

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