Mirae Asset Securities Issues KRW 400bn Unsecured Bonds (AA0) for Debt Refinancing
- Mirae Asset Securities to issue up to KRW 400bn in unsecured public bonds (Tranches 82-1, 82-2, 82-3) after demand forecast
- Credit rating: AA0 (Stable) by KIS Ratings and Korea Ratings
- Proceeds fully used for debt repayment (CP KRW 150bn, corporate bond KRW 230bn)
- FY2025 Q3 consolidated: Assets KRW 144.7tn, Equity KRW 12.9tn, Net income KRW 1.0tn
- Net capital ratio (new NCR) at 3,353.92% indicating strong capital adequacy
- Leverage ratio 720.10% well below regulatory limit of 1,100%
- Contingent liabilities (guarantees + purchase commitments) KRW 777bn as of Q3 2025 (6% of equity)
- Key risks: earnings volatility from market swings, bond valuation losses from rate changes, intensifying competition, hedging risks on derivatives-linked securities, impairments on overseas and alternative investments (subsidiary impairment of KRW 430.2bn on a consolidated basis), litigation risks (29 lawsuits as defendant worth KRW 264.2bn)
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KOSPI Filing Information
- Filing: Securities Registration Statement (Debt Securities)
- Company: Mirae Asset Securities (006800)
- Submission: Mirae Asset Securities Co., Ltd.
- Receipt: 02-02-2026
- Amended (Refer to related filing)