Pusan Cast Iron Co., Ltd. announced that it expects to receive KRW 2.5 billion in funding from Jungdo Foundation
February 01, 2021
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Pusan Cast Iron Co., Ltd. (KOSE:A005030) announced a private placement of round 9 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 2,500,000,000 on February 2, 2021. The transaction will include participation from Jungdo Foundation. The bonds are fully convertible into 3,531,073 common shares of the company at conversion price of KRW 708 per share for 5.84% share ratio. The conversion period starts at February 3, 2022 and ends at January 3, 2023. The maturity date of bonds is February 3, 2023. The payment date is February 3, 2021. The bonds will carry an interest rate of 3% and surface interest rate of 5% in the transaction. The bonds are subject to hold period of one year. The transaction has been approved by the board of directors of the company.
PUSAN CAST IRON CO., LTD. is a Korea-based company mainly engaged in the manufacturing of automobile components. The Companyâs main products consist of crank shafts, normal form (NF) carriers, knuckles, housings, differential cases, differential carriers, forks, brake carriers, rear carriers, brackets, hubs, truck drums, brake bridges, brake spiders, caliper discs, hub wheels, brake frames, bearing caps, caliper brakes and other automobile components. In addition, the Company provides engine materials and scrap irons. The Companyâs products are mainly used as parts for automobile brakes, engines and power transfer units. It distributes its products within domestic market and to overseas markets.
PUSAN CAST IRON CO., LTD. 
