Koramco Life Infra Reit Co.,Ltd announced a private placement to issue Series 1 Bearer-Bearing Interest-Bearing, Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 11,000,000,000 on February 1, 2024. The transaction will include participation from new investors Hana Bank Co., Ltd. (in the position of trustee of Fund 2) for KRW 3,000,000,000, KB Securities Co., Ltd., (in the position of trustee of Fund 3 and Fund 4) for KRW 3,000,000,000 Korea Investment & Securities Co., Ltd., (proprietary investment) for KRW 3,000,000,000 and Shinhan Bank Co., Ltd. (in the position of trustee of Fund 1) for KRW 2,000,000,000. The securities are restricted to a hold period of 1 year.

The bonds are 100% convertible into 2,223,568 shares at a fixed conversion price of KRW 4,947 from February 6, 2025 to January 6, 2027. The bonds bear 3.5% coupon rate and 4.50% maturity rate and matures February 6, 2027. The transaction has been approved by the shareholders of the company and is expected to close on February 6, 2024.