SC Engineering Co., Ltd announced that it will issue series 10 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000 on August 17, 2021. The transaction will include participation from existing investor SEWON E&C CO., Ltd. The bonds will be issued at par. The transaction will include participation from Korea Fixed-Income Investment Advisory.

The bonds will bear interest rate of 0% per annum and will have a yield to maturity of 2%. The bonds will mature on August 19, 2024. The bonds are convertible into 1,723,840 common shares at a fixed conversion price of KRW 5,801 per share from August 19, 2022 to July 19, 2024.

The date of subscription and expected date of payment is August 19, 2021. The transaction is approved by the board of directors of the company. The bonds issued are subject to a hold period of 1 year from the date of issuance.