Kakao returns home for CB issue

For the second time in less than a week a Korean firm is shying away from the international bond markets in favour of a local issue.

Kakao returns home for CB issue

Kakao Corp has become the second Korean issuer in the space of a week to opt for a domestic equity-linked deal, announcing plans to raise W250 billion $219 million.

The Kosdaq-listed company’s decision follows hot on the heels of GS Engineering Construction GS EC, which is also raising W250 billion from a domestic convertible bond to refinance a previous dollar-denominated deal.

Unlike GS EC, Kakao has...

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