[THE INVESTOR] S-OIL is preparing for a 300 billion won (US$ 267.58 million) bond issuance in September, local media reported on July 29.
According to reports citing unnamed financial industry sources, the refiner has selected Shinhan Investment and NH Investment and Securities to oversee the deal. S-OIL, rated “AA+,” is said to be looking to issue bonds with 5-year or longer maturity.
The funds raised from the sale will be injected into the company’s plant in Ulsan which is under construction.
By Choi He-suk (cheesuk@heraldcorp.com)