YooSung TNS Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Seohee Construction Co., Ltd., Apple Tree D&I Co., Ltd., and other investors
May 21, 2017
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YooSung TNS Co., Ltd. (KOSDAQ:A024800) announced a private placement of 28th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on May 22, 2017. The transaction will include participation from existing investors Hanil Asset Management & Investments Limited for KRW 10,000,000,000, Seohee Construction Co., Ltd. (KOSDAQ:A035890) for KRW 3,000,000,000, Apple Tree D&I Co., Ltd. for KRW 1,500,000,000, Bong-Kwan Lee for KRW 2,000,000,000, and other investors. The bonds will be issued at par.
The bonds will bear a fixed coupon rate of 5% per annum and yield to maturity of 5% per annum. The bonds are 100% convertible into shares of the company at a fixed conversion price of KRW 4,205 per share from May 26, 2018 to April 26, 2020. The bonds will mature on May 26, 2020.
YOOSUNG T&S CO., LTD is a Korea-based company mainly engaged in the logistics and steel products manufacturing businesses. The Company operates its business through three main divisions: logistics division, steel division and distribution division. Its logistics division provides road and railway transportation of steel products, containers and other bulk cargos; harbor services, including loading and unloading services; vehicle maintenance and repair services; gas filling services, as well as office rental services. Its steel division manufactures steel pipes, steel sheets and others, which are used for bridges, ships, steel structures, automobiles, factories, ports and others. Its distribution division operates resting places, which distribute food, beverages and others. It also provides heat exchangers, as well as sells electrical and gas air conditioners.
YooSung TNS Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Seohee Construction Co., Ltd., Apple Tree D&I Co., Ltd., and other investors