DAEWON Chemical Co., Ltd. announced that it has received KRW 2 billion in funding from Synergy Partners Co., Ltd..
September 12, 2013
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DAEWON Chemical Co., Ltd. (KOSE:A024890) announced a private placement of convertible bond series no. 8 for gross proceeds of KRW 2,000,000,000 on September 11, 2013. The bonds issued will carry an interest rate of 2.5 % and yield to maturity of 3%. The bonds will mature on September 13, 2018. The bonds are convertible into the common shares of the company at KRW 1,403 per share. The conversion period will start on September 13, 2014 and will end on August 13, 2018. The transaction has been approved by the board of directors of the company. The payment date and subscription date will be September 13, 2013.
On September 13, 2013, DAEWON Chemical Co., Ltd. closed the transaction.
DAEWON CHEMICAL CO., LTD. is a Korea-based company mainly engaged in the manufacture of synthetic leathers. The Company operates in three segments: wallpaper, synthetic leather and refinery. Its wallpaper segment is engaged in the manufacture of fire retardant wallpapers, silk wallpapers, charcoal wallpapers, wiping wallpapers and others used as interior finishing materials under the brand name D&D, 4U and others. Its synthetic leather segment is engaged in the manufacture of synthetic leathers and artificial leathers used for shoes, balls, gloves and garments, and processing of fabrics under the brand name Art-Lite, Ace-Buck, High-Lock, Encarta and others. Its refinery segment refines waste di-methyl formamide (DMF) in the process of synthetic leather manufacture.
DAEWON CHEMICAL CO., LTD. 