HUSTEEL CO., Ltd. announced that it expects to receive KRW 20 billion in funding from group of investors
December 04, 2016
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HUSTEEL CO., Ltd. (KOSE:A005010) announced a private placement of 52nd unregistered, coupon unguaranteed unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on December 5, 2016. The bonds will mature on December 7, 2021 and do not carry any annual coupon or yield to maturity. The bonds can be fully converted into common shares of the company at a fixed conversion price of KRW 15,711 per share. The conversion period will start from December 7, 2017 and will end on November 7, 2021. The transaction is expected to close on December 7, 2016. The transaction has been approved by the board of directors of the company. The transaction will include participation from new investors, Shinhan Investment Corp., Investment Arm for KRW 3,000,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,500,000,000, IBK Capital Corporation for KRW 1,500,000,000, SK Securities Private Equity for KRW 1,000,000,000, Hyosung Capital Co., Ltd. for KRW 1,000,000,000, and other investors.
Husteel Co., Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of steel pipes. The Company's products mainly consist of steel pipes for ordinary piping, fuel gas piping and pressure service, tubes for general structural purposes and mechanical structural purposes, square tubes, rectangular tubes, steel pipe piles, high tensile strength steel tubes for tower structural purposes, cold rolled carbon steel square pipes for aseismatic building structure, line pipes, carbon steel boilers, heat exchanger tubes and others. In addition, the Company involves in the real estate rental business. The Company distributes its products within domestic market and to overseas markets.
HUSTEEL CO., LTD. 
