DAE-IL Corporation announced that it expects to receive KRW 20.5 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Meritz Securities Co., Ltd., Investment Arm, Hana Financial Investment Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm and other investors
March 07, 2019
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DAE-IL Corporation (KOSE:A092200) announced a private placement of 5th series unregistered coupon unguaranteed non-detachable private bonds with warrants for gross proceeds of KRW 20,500,000,000 on March 8, 2019. The transaction will involve participation from new investors Hanyang Securities Co. Ltd., Investment Arm for KRW 4,000,000,000, Mirae Asset treatment corporation from trust dealers concerned position of The Platform Smart Mezzanine 4.0 Hedge Fund 7, The Platform Mezzanine Multi-strategy Hedge Fund 1, The Platform Mezzanine Multi-strategy Hedge Fund 2, The Platform Mezzanine income Hedge Fund 1, The Platform Mezzanine IPO Hedge Fund 1, and The platform Multi-strategy Hedge Fund 1 for KRW 3,100,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000 and 8 other investors. The bonds will carry no coupon rate and a yield to maturity of 2.5%. The bonds will mature on March 15, 2024. The warrants will be fully exercisable at an exercise price of KRW 6,795 into 3,016,924 shares from March 15, 2020 to February 15, 2024. The subscription and payment date of the transaction are March 12, 2019 and March 15, 2019 respectively. The transaction was approved by the board of directors of the company.
DAE-IL Corporation is a Korea-based company mainly engaged in the manufacture of automobile parts and heavy equipment parts. The Company mainly provides three categories of products: automobile parts, which include diff sub-assemblies, clutch shafts, planet carrier shafts, oil pump gears, reaction shaft assemblies and others used for transmissions and engines of passenger cars and commercial vehicles; heavy equipment parts, such as transaxle and drive axle assemblies for transmissions of heavy equipment, such as forklifts, and motorcycle parts, which include engines and transmission assemblies for motorcycles and industrial machines. The Company distributes its products within domestic market and to overseas markets.
DAE-IL Corporation announced that it expects to receive KRW 20.5 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Meritz Securities Co., Ltd., Investment Arm, Hana Financial Investment Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm and other investors