Hankook Tire recently made important progress in the capital market and successfully issued corporate bonds totaling 460 billion won. This move aims to optimize the financial structure and provide strong financial support for the company's global expansion and raw material procurement.
Specifically, the bonds issued this time include three products with different maturities: 120 billion won of 2-year bonds with an interest rate of 2.937%; 280 billion won of 3-year bonds with an interest rate of 3.068%; and 60 billion won of 5-year bonds with an interest rate of 3.116%. The issuance of these bonds reflects the market's confidence in Hankook Tire's steady development.
Hankook Tire plans to use the funds raised in a variety of areas. First, 150 billion won will be used to repay a bond that is about to mature, ensuring the company's financial stability. In addition, 100 billion won will be used to repay general loans from the Industrial and Commercial Bank of China, while 50 billion won will be used to repay other bank loans and trade mortgage loans.
The remaining 160 billion won will be used as operating funds, mainly for purchasing rubber raw materials to ensure the stable operation of the production line and improve product quality. This move is of great significance to ensuring Hankook Tire's competitiveness in the global market.
In terms of investment plans, Hankook Tire is working on expanding its factories in the United States and Hungary to meet growing market demand. The company's annual capital expenditure is expected to exceed 1 trillion won by 2026, an investment scale that reflects Hankook Tire's long-term commitment to the global market.
It is worth mentioning that Hankook Tire recently acquired Hanon Systems, a strategic move that heralds the company's further expansion in the automotive parts field. In the future, Hankook Tire may need more financial support to promote the development of new businesses and increase market share.
Overall, the successful issuance of Hankook Tire's bonds not only provides the company with the necessary financial support, but also demonstrates its leadership in the global tire industry and strong market influence.
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