Choil Aluminum Co., Ltd announced that it will receive KRW 30 billion in a round of funding on July 21, 2023. The transaction will include participation from new investor IMM Credit and Solutions, Inc. The company will issue bonds with a warrant. The warrant will allow the holder to convert bonds to new shares in the aluminum products manufacturer at a predetermined exercise price.

Under the agreement, the credit manager can convert the bonds to stocks at 2,980 apiece starting on August 10, 2024. Maturity is on August 10, 2029. The bond has no coupon rate and no yield to maturity.