Sambo Motors Co., Ltd announced that it expects to receive KRW 10 billion in funding
June 23, 2019
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Sambo Motors Co., Ltd (KOSDAQ:A053700) announced a private placement to issue series 9 unregistered coupon unguaranteed private convertible bond of KRW 10,000,000,000 on June 24, 2019. The transaction included participation from ANDA Mezzanine Hedge Fund 7 for KRW 6,000,000,000, ANDA Cruise Hedge Fund for KRW 2,300,000,000, ANDA Mezzanine Alpha Hedge Fund 1 for KRW 1,500,000,000, and ANDA Voyager Hedge Fund 1 for KRW 200,000,000. The bond carry a zero coupon rate and zero yield to maturity. The bonds will mature on June 26, 2024. The bonds are fully convertible into 1,453,911 shares of the company at conversion price of KRW 6,878 per share which represents 8.35% stake in the company. The conversion period starts from June 26, 2020 and ends on May 26, 2024. The subscription date of bonds is June 26, 2019. The transaction is expected to close on June 26, 2019. The transaction has been approved by the board of directors of the company.
SAMBO MOTORS CO., LTD is a Korea-based company principally engaged in the manufacture of automobile components together with its subsidiaries. The Companyâs products portfolio consists of transmission parts including carrier plates, automatic plates, shaft assembly clutch release forks, rings, covers and center supports; engine parts including water pipes, oil screens, oil level gauges, heater pipes, stays and others, as well as fuel parts including fuel filler necks. The Companyâs main clients are KIA MOTORS, GM DAWOO, HYUNDAI MOTORS, HYUNDAI MOBIS and others. It distributes its products within domestic market and to overseas markets. On January 30, 2013, the Company established a new wholly owned subsidiary in Korea, engaged in the automobile parts and other items, to acquire Placor Co., Ltd.
SAMBO MOTORS CO., LTD 
