Fact Source: Financial Supervisory Service DART
💡 Summary
SK Square’s subsidiary, SK Hynix, has decided to exercise its call option (Clean Up Call) to fully acquire and retire its remaining overseas exchangeable bonds worth approximately KRW 132.68B prior to maturity, as the outstanding balance dropped below 10% of the initial issuance.
📊 Key Disclosure Contents & Financial Highlights
- Submitting Company: SK Square Co., Ltd. (Subsidiary: SK Hynix Inc.)
- Bond Type: Foreign Overseas Exchangeable Bonds (Private Placement)
- Issuance Date / Maturity Date: April 11, 2023 / April 11, 2030
- Total Principal Amount: KRW 2.24T (KRW 2,237,710,000,000; converted at the issuance exchange rate of KRW 1,316.30/USD)
- Principal Amount Targeted for Redemption: KRW 132.68B (KRW 132,683,040,000; all remaining balance)
- Decision Date: April 28, 2026
- Scheduled Acquisition Amount: KRW 132.99B (KRW 132,986,180,941; includes accrued unpaid interest at 1.75%, early redemption rate of 100.23%)
- Scheduled Payment Date: May 28, 2026
- Source of Funds: Internal Cash
- Acquisition Method: Clean Up Call announcement via the Singapore Exchange and Bloomberg, followed by payment after the exchange request period ends
- Reason for Early Redemption: Exercise of issuer’s Call Option (Clean Up Call) due to outstanding bond balance falling below 10% of initial principal
- Subsequent Plan: Full cancellation of acquired bonds (upon cancellation, underlying treasury shares deposited with the Korea Securities Depository will revert to SK Hynix)
- Underlying Shares for Exchange: 1,219,445 common treasury shares of SK Hynix (0.2% of total shares, exchange price of KRW 108,811/share)
- Remaining Principal Balance After Redemption: KRW 0
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Complete Bond Cancellation and Treasury Share Reversion
This early acquisition decision represents the final cleanup step to redeem all outstanding exchangeable bonds as the remaining balance fell below the 10% threshold required for a Clean Up Call.
Verifying the completion of bond retirement following the payment date (May 28, 2026) and confirming the reversion of deposited underlying shares (1,219,445 treasury shares) back to SK Hynix is important to evaluate debt reduction and corporate asset updates.
Further details regarding bond retirement and treasury share status can be verified in future annual, half-year, or quarterly reports and subsequent disclosures of SK Hynix and SK Square.
📢 Disclaimer & Source Notice
Source: This content was structured and newly generated based on official filing data from the Financial Supervisory Service’s DART system.
Investment Risk Warning: This content is provided for informational and linguistic reference purposes only. Differences in vocabulary or structure may exist, and under no circumstances does this constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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