Truwin Company Limited (KOSDAQ:A105550) announced a private placement of round 13 Unregistered Coupon non-guaranteed private convertible bonds for gross proceeds of KRW 7,000,000,000 on January 22, 2021. The bonds carry a coupon rate of 0% and yield to maturity of 3% and will mature on January 26, 2024. The bonds are 100% convertible into 1,350,569 common shares at a conversion price of KRW 5,183 and the conversion period starts on January 26, 2022 and ends on December 26, 2023.

The transaction will include participation from CoAsia Corporation (KOSDAQ:A045970). The transaction has been approved by the board of directors of the company. The subscription date is on the same date and the payment date is January 26, 2021.

The bonds are subject to prohibition of conversion and spin-off/merge of issue for one year from the date of issue of bonds.