South Korea’s memory giant SK hynix Inc. nearly doubled its latest offering in environmental, social and governance (ESG) theme to 1.18 trillion won ($1.06 billion) upon overwhelming demand in bookbuilding session, of which 440 billion won worth set aside for social sustainability.
SK hynix said in a disclosure on Wednesday that it offered 1.18 trillion won in ESG bonds, scaled up from initial 600 billion won offer after book building session on Monday.
Of them, 360 billion won was issued in social bonds in five-year maturity and 80 billion won in seven-year maturity.
Social bonds are ESG debt category sold for investment in social sustainability issues such as job creation, poverty group support, and social infrastructure establishment.
Social bonds were mostly by public entities and financial institutions while general companies sold green bonds.
Yang Hyung-mo, head of financial management at SK hynix said that the company was able to successfully issue social bonds as the company had long delivered a message to investors that it plans to seek balanced growth in DRAM and NAND flash memory and enhance ESG management and make social contributions.
By Ahn Gab-seong and Lee Eun-joo
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