Daewoo Electronic Components Co.,Ltd. announced a private placement of series 45 privately placed convertible bonds with registered interests for gross proceeds of KRW 2,000,000,000 on February 27, 2023. The transaction included participation from Korea Development Bank Jeonju Branch. The bonds will have lump-sum redemption of principal on maturity date.

The interest will be paid in a gap of one month starting on March 27, 2023. The bonds carry a coupon rate of 3% and have a yield to maturity of 7%, and mature on February 27, 2026. The bonds are 100% convertible into 1,310,615 shares of the company at a conversion price of KRW 1,526 per share and have a holding period of 1 year.

The conversion period of the bonds will be from February 27, 2024 till January 27, 2026. The subscription date for the transaction and the payment date will be February 27, 2023. The transaction has been approved by the board of directors of the company.