Lotte Tour Development Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Shinhan Investment & Securities Co., Ltd., NH Investment & Securities Co., Ltd., Investment Arm, DB Financial Investment Co.,Ltd., Investment Arm, Korea Fixed Income Investment Advisory Co., Ltd. and other investors
February 21, 2023
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Lotte Tour Development Co., Ltd. announced a private placement of turn 9-1 type Bearer Private Placement Convertible Bonds for proceeds of KRW 25,000,000,000 and series 9-2 Bearer Private Placement Convertible Bonds for the gross proceeds of KRW 10,000,000,000; aggregate gross proceeds of KRW 35,000,000,000 on February 22, 2023. The bonds will be issued at a 4% surface rate and 8% interest rate to maturity. The bonds will mature on Feb 23, 2027. The bonds will be convertible into common shares at a price of KRW 14,413. The transaction will include participation from Shinhan Investment & Securities Co., Ltd. for KRW 2,000,000,000 and Korea Fixed Income Investment Advisory Co., Ltd. for KRW 10,500,000,000, C Square Dragon Multi Strategy General Private Equity Trust No. 1, C Square The banks 4 general private equity trust,, C Square Sniper General Private Equity Trust No. 16, C Square Mezzanine Challenge and Audit General Private Equity Investment, GVA Fortress-A General Private Equity Trust, NH Absolute Return General Private Equity Trust No. 1, NH Absolute Mezzanine General Private Equity Trust No. 3 and returning investors NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,000,000,000 and DB Financial Investment Co.,Ltd., Investment Arm for KRW 1,000,000,000. The conversion period of the bonds will start from February 23, 2024 and end on February 16, 2027. The subscription date and payment date of the transaction is February 23, 2023. The transaction got approved by the board of directors of the company. The securities will be subject to a hold period of 1 year.Â
Series 9-2 bonds - The transaction will include participation from Moru Asset Management Co., Ltd. for KRW 10,000,000,000. The bonds will be issued at a 4% surface rate and 8% interest rate to maturity. The bonds will mature on Feb 23, 2027. The bonds will be convertible into 693,818 common shares at a fixed conversion price of KRW 14,413 and will mature on February 23, 2027 from March 29, 2024 to February 16, 2027. The transaction is expected to close on March 29, 2023. The securities will be subject to a hold period of 1 year.
Lotte Tour Development Co Ltd is a Korea-based company mainly engaged in the provision of travel services. The Company operates its business in four segments. The Travel Business segment is engaged in the sale of travel products such as packaging tours, theme tours, independent tours, honeymoon tours, golf tours, cruises and others. The Pre-Sale Agency segment mainly engages in real estate rental business. The Casino segment is engaged in the casino business. The Internet Information Service segment provides services such as airline tickets and hotel reservation services, and other travel-related services and travel information.
Lotte Tour Development Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Shinhan Investment & Securities Co., Ltd., NH Investment & Securities Co., Ltd., Investment Arm, DB Financial Investment Co.,Ltd., Investment Arm, Korea Fixed Income Investment Advisory Co., Ltd. and other investors