Hanwha Corp. to issue first green bonds worth W150b

Hanwha Corp. said Friday that it will issue green bonds for the first time.

According to the Hanwha Group holdings firm, it will file a securities declaration with the Financial Supervisory Service on Monday and conduct a book-building session Thursday, seeking to issue green bonds worth up to 150 billion won ($134 million) on May 7.

Green bonds are specifically earmarked to raise money for climate and environmental projects. Hanwha Corp. last month launched an environmental, social and corporate governance committee under its board of directors.

The bonds will consist of three-year and five-year bonds, and KB Securities is the lead underwriter. Hanwha Corp. received the highest environmental rating, Green1, from both Korea Ratings and Nice Rating.

In February, when Hanwha Solutions raised 1.35 trillion won through a rights offering to fund its solar and hydrogen businesses, Hanwha Corp. invested 420 billion won.

By Kim Byung-wook (kbw@heraldcorp.com)