Hyundai Merchant Marine Co.,Ltd. announced that it expects to receive KRW 200 billion in funding from Korea Development Bank, Investment Arm, Korea Ocean Business Corporation
June 19, 2019
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Hyundai Merchant Marine Co.,Ltd. (KOSE:A011200) announced a private placement to issue series 195 unregistered coupon unguaranteed private convertible bond of KRW 200,000,000,000 on June 20, 2019. The transaction includes participation from Korea Development Bank, Investment Arm, an investment arm of Korea Development Bank for KRW 100,000,000,000 and existing investor Korea Ocean Business Corporation for KRW 100,000,000,000. The bond carry a coupon rate of 3%. The bonds will mature on June 27, 2049. The bonds are fully convertible into 40,000,000 shares at conversion price of KRW 5,000 per share with face value of KRW 5,000 per share which represents 11.25% stake in the company. The conversion period starts at June 28, 2020 and ends on May 26, 2049. The subscription date of bonds is June 27, 2019. The transaction is expected to close on June 27, 2019.
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 200 billion in funding from Korea Development Bank, Investment Arm, Korea Ocean Business Corporation
HMM CO.,LTD 
