Hyundai Logistics to raise 40b won by selling bonds

Seoul

HYUNDAI Logistics Co, rated junk six months ago, is set to almost halve borrowing costs this week as it helps deliver record online purchases by South Koreans.

The nation's third-largest delivery service company plans to raise 40 billion won (S$49.6 million) selling two and three-year bonds on April 10, regulatory filings show. The about 2.698 per cent coupon on the 2017 notes compares with 4.5 per cent paid on similar notes in 2013. Two-year BBB+ won corporate debt yields an average 4.746 per cent.