Dongil Steel Co., Ltd. announced that it expects to receive KRW 10 billion in funding from KB Securities Co., Ltd., Korea Investment & Securities Co., Ltd., Investment Arm, SUSUNG ASSET MANAGEMENT Co., Ltd., Ace Susung New Technology Fund 15, Mirae Asset Daewoo Co., Ltd., Investment Arm
March 22, 2022
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Dongil Steel Co., Ltd. announced a private placement of round 2 bearer interest non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on March 23, 2022. The transaction will include participation from Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, KB Securities Co., Ltd. for KRW 2,000,000,000, existing investors Korea Investment & Securities Co., Ltd., Investment Arm for 2,000,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 1,000,000,000, Ace Susung New Technology Fund 15 for KRW 1,000,000,000 and IBK Financial Group Synergy Ivy Business Reorganization New Technology Fund for KRW 3,000,000,000. The bonds bear a coupon rate of 2%, interest rate to maturity of 3% and will mature on March 25, 2027.
The bonds are 100% convertible into 2,572,016 common shares at a conversion price of KRW 3,888 per share from March 25, 2023 to February 25, 2027. The transaction has been approved by the board of directors of the company. The payment date of the transaction is March 25, 2022.
The bonds are subject to prohibition of conversion and division of transaction units for one year from the date of issue of bonds.
DONGIL STEEL Co., Ltd. is a Korea-based company mainly engaged in the manufacture of steel products. The Company operates its business through two main divisions: bar steels division and shape steels division. Its bar steels division engages in the manufacture of bar steels such as cold drawn steel round bars, hot rolled steel round bars, cold drawn steel square bars, cold drawn steel hexagonal bars and cold drawn steel rectangular bars used for automobile parts, machine parts, building materials, shipbuilding hardware, bolt-nuts and various shafts. Its shape steels division engages in the manufacture of shape steels, such as equal angles, unequal angles and channels used for shipbuilding, iron towers, braces, struts, bending materials and others. The Company distributes its products within domestic market and to overseas markets.
Dongil Steel Co., Ltd. announced that it expects to receive KRW 10 billion in funding from KB Securities Co., Ltd., Korea Investment & Securities Co., Ltd., Investment Arm, SUSUNG ASSET MANAGEMENT Co., Ltd., Ace Susung New Technology Fund 15, Mirae Asset Daewoo Co., Ltd., Investment Arm
DONGIL STEEL CO., LTD. 
