Daewon Cable. Co., Ltd. announced that it expects to receive KRW 5 billion in funding from The Export-Import Bank of Korea
May 23, 2021
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Daewon Cable. Co., Ltd. (KOSE:A006340) announced a private placement of round 25 unguaranteed private convertible bonds for the gross proceeds of KRW 5,000,000,000 on May 24, 2021. The transaction will include participation from The Export-Import Bank of Korea. The bonds carry coupon rate of zero and yield to maturity of 1.2%. The bonds will mature on May 26, 2024. The subscription and payment date for the bonds are May 26, 2021. The bonds will be fully convertible into 3,158,559 common shares at an conversion price of KRW 1583 per share from May 26, 2022 to April 26, 2024. The company has received approval from the board of directors. All securities to be issued are subject to a hold period of one year.
DAEWON CABLE. CO., LTD. is a Korea-based company mainly engaged in the manufacture of cables and wires. The Company produces copper and aluminum wires, naked electric wires, building wires, polyvinyl chloride (PVC) insulated wires, power and control cables, data and telecommunication cables, optical fiber cables, underground residential distribution (URD) power cables, local area network (LAN) cables, flame retardant cables, power supply wires and others. The products are used for electricity transmission and distribution, as well as city downtown and outside communications. It also involves in the processing business through its affiliate. The Company distributes its products within domestic market and to overseas markets. On June 24, 2013, the Company acquired 100% shares of a Korea-based company, which is mainly engaged in the designated waste treatments.
DAEWON CABLE. CO., LTD. 
