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Lotte Card announced on the 23rd that it has issued a new ESG overseas ABS (asset floating securities) worth $300 million (about 441.9 billion won).
Societe Generale participated as an investor in the overseas ABS, which was issued with credit card accounts as an underlying asset. The average maturity is three years. It reduced financial costs by issuing at a competitive interest rate level compared to the issuance of domestic corporate bonds, and signed a currency and interest rate swap contract to reduce risk factors caused by fluctuations in exchange rates and interest rates.
The ABS issued this time is a social bond and will be used for financial support for low-income families. This is the fifth ESG overseas ABS issued by Lotte Card, which has raised $1.76 billion (about 2.3088 trillion won) since its first issuance in 2021 and used it to support low-income families.
A Lotte Card official who spoke to this newspaper by phone said, "We have strengthened our responsiveness to market volatility by diversifying our funding sources through overseas ABS issuance, and we will establish a stable financing environment through various and continuous overseas procurement in the future."
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*This content was translated by AI.
