Pusan Cast Iron Co., Ltd. announced that it expects to receive KRW 2.5 billion in funding from Jungdo
December 16, 2020
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Pusan Cast Iron Co., Ltd. (KOSE:A005030) announced a private placement of round 8 non-guaranteed private convertible bonds for gross proceeds of KRW 2,500,000,000 on December 17, 2020. The transaction will include participation from Jungdo. The bonds are fully convertible into 3,086,419 common shares of the company at conversion price of KRW 810 per share. The conversion period starts at December 18, 2021 and ends at November 18, 2022. The maturity date of bonds is December 18, 2022. The payment date is December 18, 2020. The bonds will carry an interest rate of 5% and surface interest rate of 3% in the transaction. 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. 
