Hyundai Merchant Marine Co.,Ltd. announced that it expects to receive KRW 100 billion in funding from Korea Ocean Business Corporation, Korea Development Bank, Investment Arm
May 21, 2019
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Hyundai Merchant Marine Co.,Ltd. (KOSE:A011200) announced a private placement of 194th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 100,000,000,000 May 22, 2019. The transaction will include participation from existing investor Korea Development Bank, Investment Arm and Korea Ocean Business Corporation for KRW 50,000,000,000 each. The bonds have fixed interest rate of 3%. The bonds are fully convertible into 20,000,000 common shares of the company at fixed conversion price of KRW 5,000 per share from May 24, 2020 to April 24, 2049. The bonds will mature on May 24, 2049. The securities will be issued at par. The transaction is expected to close on May 24, 2019. The transaction was approved by the board of directors of the company.
HMM Co Ltd, formerly Hyundai Merchant Marine Co Ltd, is a Korea-based company specialized in the provision of shipping services. The Company operates its business through three segments. The Container segment provides dangerous cargo service, reefer cargo services, over-sized cargo service and others. Its container services provide container carrier transportation services, which include transpacific services, Asia-Europe services, transatlantic services, intra-Asia services and Latin America services. The Bulk segment provides transportation services with vessels such as tankers, liquid natural gas (LNG) carriers, liquid petroleum gas (LPG) carriers and trampers for LNG, LPG, steel mills, power plants, coals and iron ores suppliers. The Other segment engages in the terminal operation.
Hyundai Merchant Marine Co.,Ltd. announced that it expects to receive KRW 100 billion in funding from Korea Ocean Business Corporation, Korea Development Bank, Investment Arm
HMM CO.,LTD 
