Hyung Kuk F&B Co., Ltd. announced that it expects to receive KRW 11 billion in funding from Industrial Bank of Korea, Investment Arm, Busan Bank Co., Ltd., Investment Arm
May 22, 2018
Share
Hyung Kuk F&B Co., Ltd. (KOSDAQ:A189980) announced a private placement of 2nd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 11,000,000,000 on May 23, 2018. The transaction will include participation from Busan Bank Co., Ltd., Investment Arm for KRW 8,500,000,000 and Industrial Bank of Korea, Investment Arm for KRW 2,500,000,000. The bond carries no coupon and will mature on May 29, 2023. The bonds are convertible into common shares at a fixed conversion price of KRW 9,812 per share between May 29, 2019 to April 29, 2023. The subscription date of the transaction is May 29, 2018 and payment date is May 29, 2018. The transaction has been approved by board of directors of the company.
HYUNGKUK F&B Co., Ltd is a Korea-based company mainly engaged in manufacturing fruit concentrates for non-alcoholic beverages. The Companyâs product portfolio consists of fruit concentrates for beverages under the brand Momâs; smoothies under the brand NEO SMOOTHIE; extraction juices including fruit juices and vegetable juices; ice flakes with syrup; fruit topping products for beverages, and other beverage materials such as bubble tea powders and tapioca balls. The Company contributes its products within domestic market and to oversea markets.
Hyung Kuk F&B Co., Ltd. announced that it expects to receive KRW 11 billion in funding from Industrial Bank of Korea, Investment Arm, Busan Bank Co., Ltd., Investment Arm
HYUNGKUK F&B CO., LTD. 
