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Kyobo Securities to Underwrite KRW40 Billion of Kyobo Life Insurance's Hybrid Bonds

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Kyobo Securities (KRX:030610) has agreed to underwrite 40 billion won of hybrid capital securities issued by its affiliate, Kyobo Life Insurance, according to a Tokyo bourse filing on Tuesday.

The 300 billion won total issuance, scheduled for Aug. 31, carries a 30-year maturity with coupon and yield rates to be determined through demand forecasting.

The board approved the deal on Aug. 12, with the transaction subject to change based on demand forecasts. The total face value is adjustable at up to 500 billion won.

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