PaperCorea Inc. announced that it expects to receive KRW 40 billion in funding from Uamco., Ltd., Investment Arm
February 14, 2019
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PaperCorea Inc. (KOSE:A001020) announced a private placement of series 109 domestic unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 40,000,000,000 on February 15, 2019. The transaction will involve participation from existing investor, Uamcocr 7th Corporate Recovery Private Equity Fund, a fund managed by Uamco., Ltd., Investment Arm. The bonds will be issued at par. The bonds carry coupon rate of 4.6% have yield to maturity of 7%. The maturity date of bonds is on February 19, 2024. The bonds will be fully convertible into 42,826,552 shares of the company at a fixed conversion price of KRW 934. The conversion period will start from November 29, 2019 and end on October 29, 2021. The subscription date and the payment date is February 19, 2019. The transaction has been approved by the board of directors of the company.
PaperCorea Inc. is mainly engaged in the manufacture and sale of newsprint papers. The Company, together with four subsidiaries, operates in five divisions. Its paper division engages in the manufacture of printing papers, such as newsprint papers, papers for comic books, papers for telephone directories, publication papers and medium quality papers, as well as industrial papers, such as sack kraft papers, environmentally friendly products and specialty papers. Its structural steel division engages in the manufacture of structured steels and steel frames, as well as provision of operation and maintenance services for plants. Its printing material division engages in the manufacture of polyethylene terephthalate (PET) films used as ink jet media, coatings and electronic materials. Its electricity division engages in the provision of electricity with fuel batteries. Its education division engages in the provision of class course services, teaching materials and others.
PAPERCOREA INC. 
