February 19, 1997 in Social Responsibility News

SAMSUNG Electronics CBs Named

Seoul, Korea, February 19, 1997: Samsung Electronics Co., Ltd. announced today that the financial journal Asiamoney reported in its February issue that convertible bonds (CBs) issued by Samsung Electronics Co. in September 1996 were the `Deal of the Year` among all Asian securities for 1996. At the beginning of every new year, Asiamoney -- the prestigious monthly magazine read by members of leading financial institutions and corporate financial officers -- rates securities in each major category (bonds, stocks, stock-related bonds).

Asiamoney selected Samsung Electronics as `Deal of the Year` for the following reason:

In spite of its dropping stock price as a result of the plunging DRAM prices in 1996, a continuing slump in the Korean stock market, and the `cold` attitudes expressed by the investors towards the Korean stock market, Samsung Electronics issue of CBs were successful due to its sound selection of appropriate investment products, guaranteed depository receipts (GDRs) and common stock convertible bonds .

Samsung Electronics disregarded the negative forecasts by securities market analysts, and created a demand five times as great as the face value of the issuance. The bonds were issued at a 25 premium (the highest among Asian CBs this year), and the price has remained at least 10 higher than what it was at issuance, making them very popular among investors. Samsung Electronics experience in raising capital on international financial markets as well as its solid investment management activities are also seen as major factors behind bond `s success. Also last year, the industry leading journal Corporate Finance, named the issuance `Deal of the Year.`

Given the current Hanbo Group scandal, Korean companies and banks are in danger of losing credibility in international markets. However, despite these difficulties, Samsung Electronics has been holding strong, and is being regarded as a model case study in the area of overseas securities issuance.


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