Hanjin Transportation Co., Ltd. announced a private placement of series 109 domestic bearer type non-guaranteed privately placed convertible bonds with interest for the gross proceeds of KRW 30,000,000,000 on July 11, 2023. The transaction will include participation from returning investor Eugene Investment & Securities Co.,Ltd. The bonds carry a coupon rate of 0% and maturity rate 2.5%. The bond will expire on July 24, 2028.

The bonds are 100% convertible into 1,564,945 shares at a conversion price of KRW 19,170 per share. The bonds are convertible from July 24, 2024 to June 24, 2028. The transaction has been approved by the board of directors of the company.

The bonds are restricted to the hold period of 1 year. The transaction is expected to close on July 24, 2023.