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Korea Ocean Business Corp. Raises $300 Million via Formosa Bond Issuance in Taiwan
Finance · Major Banks · yonhap_finance · 2026-09-09
Korea Ocean Business Corp. successfully issued $300 million in five-year Formosa bonds in Taiwan, achieving lower borrowing costs and expanding its investor base.
What Happened
Bond Issuance Details: Korea Ocean Business Corp. (KOBC) has successfully raised $300 million through a five-year Formosa bond issuance in the Taiwanese market. This marks the fourth time the corporation has utilized this financing vehicle since 2023.
Cost Efficiency: The corporation managed to secure the funding at a rate 3 basis points lower than its previous issuance last year. This achievement represents one of the lowest interest rates ever recorded for a Formosa bond issued by a public institution.
Strategic Allocation: The proceeds are earmarked for supporting overseas infrastructure projects, including LNG export terminals and logistics centers in the United States. Additionally, funds will assist domestic shipping companies in securing vessels to ensure stable transport of critical national cargo.
Policy Commitment: CEO Ahn Byung-gil stated that stable foreign currency funding is essential for strengthening the national maritime supply chain. The corporation remains committed to diversifying its funding sources to bolster the global competitiveness of Korean maritime enterprises.