Pumyang Construction Co., Ltd. announced that it expects to receive KRW 10 billion in funding
August 22, 2016
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Pumyang Construction Co., Ltd. (KOSE:A002410) announced a private placement of fifth unregistered/unsecured unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on August 23, 2016.The transaction will include participation from new investor Capstone Private Fund 2. The bonds will mature on August 24, 2019. The bonds will carry yield to maturity of 7.5% and fixed annual coupon of 3.5%. The bonds will have lump-sum redemption of principal on maturity date for the bonds. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 13,222 per share. The company will issue bonds at par. The conversion period is from August 24, 2017 to July 24, 2019. The subscription date is August 24, 2016 and the payment date is August 24, 2016. The transaction has been approved by the board of directors of the company.
BUMYANG CONSTRUCTION CO.,LTD, formerly PUMYANG CONSTRUCTION CO.,LTD. is a Korea-based company engaged in the construction business. The Company operates its business through architecture division, civil engineering work division. Its architecture division engages in the construction of public facilities, education facilities, residential complexes, hotels, business centers and others. Its civil engineering work division engages in the construction of roads, express ways, bridges, subways, railways, as well as water and sewage treatment works and landscaping works. It was also involved in the international public building, project management and construction businesses.
BUMYANG CONSTRUCTION CO.,LTD. 
