이 기사는 2021년 05월 07일 08시02분 thebell에 표출된 기사입니다

Standard Chartered Securities Korea (SC Securities) is distinguishing itself from other securities firms by strengthening its presence in the bond markets at home and abroad.

SC Securities managed Volkswagen Financial Services Korea’s sale of five-year bond worth 130 billion won ($115 million) last month. The amount was raised from initial 100 billion won as the sale was oversubscribed during the book building process.

It is a rare case that a foreign brokerage firm underwrites won-denominated debt sale. SC Securities has been the only foreign securities firm which led the sale of won-denominated bond over the past five years, according to the thebell’s league tables. The securities firm led the Mercedes Benz Financial Services Korea’s 70 billion won bond sale and BMW Financial Services Korea’s 120 billion won bond sale in 2016 and 2017, respectively.

SC Securities’ won-denominated bond underwriting is seen as a move to strengthen its sales capability rather than expanding the market given that the firm occasionally participates in deals with foreign companies’ Korean subsidiaries.

SC Securities is also enhancing its presence in the Korean Paper market. Korean Paper refers to foreign currency-denominated securities sold abroad by South Korean entities. SC Securities led the Export-Import Bank of Korea’s 1.5 billion yuan dimsum bond sale and Hanwha Solutions’ 1 billion yuan dimsum debt sale earlier this year. The securities firm was the sole underwriter of the Hanwha Solutions deal.

SC Securities also solely underwrote the deal when Korea Development Bank sold $500 million worth dollar-denominated bond in April 2020 amid escalating coronavirus fears. The debt sale drew more than $2.2 billion in bids.

SC Securities is preparing Central American Bank for Economy Integration (CABEI)’s sale of Arirang bond, a won-denominated bond issued by a foreign entity in South Korea. This marks CABEI’s Korean bond market debut, in which SC Securities and NH Investment & Securities act as joint underwriters. (Reporting by Hye-rim Pi)