KHVATEC Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Ace Investment & Finance Co., Ltd., Shinhan Investment Corp., Hanyang Securities Co. Ltd., EBEST Investment & Securities Co., Ltd., Susung Asset Management Co., Ltd., BFA Co.,Ltd.
June 22, 2017
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KHVATEC Co., Ltd. (KOSDAQ:A060720) announced a private placement of 1st series unregistered and unsecured private convertible bonds for gross proceeds of KRW 15,000,000,000 on June 23, 217. The transaction include participation from Susung Asset Management Co., Ltd. for KRW 1,000,000,000, Shinhan Investment Corp. for KRW 2,000,000,000, BFA Co.,Ltd. for KRW 2,000,000,000, EBEST Investment & Securities Co., Ltd. for KRW 1,000,000,000, Hanyang Securities Co.
Ltd. for KRW 1,000,000,000 and Ace Investment & Finance Co., Ltd. for KRW 1,000,000,000. The bonds carry a fixed coupon rate of 1% and yield to maturity of 5%. The maturity date of bonds is June 27, 2022.
The conversion period starts from June 27, 2018 to May 27, 2022. The Subscription date and payment date is June 27, 2017. The bonds will be convertible into 1,227,797 shares of the company at a fixed conversion price of KRW 12,217 per share.
LS Securities Co Ltd, formerly EBest Investment & Securities Co Ltd, is a Korea-based company principally engaged in the financial investment and securities services provision business. The Company mainly provides securities investment brokerage services such as equity securities, debt securities, investment securities, investment contract securities, derivatives-linked securities and foreign currency securities, consignment trading services such as real-time ordering, quoting and securities information inquiring for stock futures, options and funds, as well as own trading services. The Company also provides underwriting, arranging and lending services.