Nuon Co., Ltd. announced a private placement to issue Series 1 Bearer-Type Interest-Free Unsecured Private Placement Exchangeable Bonds for the gross proceeds of KRW 10,000,000,000 on April 3, 2024. The transaction will include participation from new investors DEF Solution Co., Ltd. for KRW 4,600,000,000 and HY Investment Development Co., Ltd. for KRW 5,400,000,000. The bonds bear zero coupon rate and maturity rate and matures on April 4, 2027.

The transaction has been approved by the shareholders of the company, restricted to a hold period and is expected to close on April 4, 2024. The bonds are 100% convertible into 22,371,364 shares at a fixed conversion price of KRW 447 from May 4, 2024 to March 4, 2027.