Kakao prints $200m exchangeable into Loen

The transaction came as a surprise to the market since the Korean messaging app operator announced another domestic deal earlier this month.

Kakao prints $200m exchangeable into Loen

Korean instant messaging services provider Kakao Corp made its debut in the international bond markets on Monday, raising W230 billion $200 million from a zero-coupon bond exchangeable into shares of newly-acquired music distributor Loen Entertainment.

The transaction came as a surprise to the market because the company had already announced a separate W250 billion domestic convertible bond issue earlier this month. Equity-linked specialists said they had not expected the company to launch...

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