Samsung Securities pushing to sell 250 bln won in bonds

SEOUL, Sept. 4 (Yonhap) -- Major South Korean brokerage house Samsung Securities Co. said Friday it will issue 250 billion won (US$210 million) worth of bonds in an effort to secure liquidity.

Three-year bonds will account for the largest 170 billion won, with five-year and seven-year debt reaching 50 billion won and 30 billion won, respectively, said Samsung Securities.

Samsung Securities said it plans to conduct a demand forecast Wednesday and jack up the amount to a maximum 450 billion won, depending on the result.

Mirae Asset Daewoo Co. and SK Securities Co. will jointly lead manage the bond flotation.

A company official said the bond issuance is designed to raise cash in preparation for future needs amid a good market climate.

In February, Samsung Securities, the brokerage arm of South Korea's top conglomerate Samsung Group, sold 540 billion won in bonds. At that time, the firm had originally planned to sell 300 billion won but jacked up the amount on stronger-than-expected demand.

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