J Steel Company Holdings Inc. announced a private placement of series 2 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000 on June 14, 2022. The transaction will include participation from Sangsangin Plus Savings Bank, Investment Arm for KRW 3,000,000,000, Sangsangin Savings Bank, Investment Arm for KRW 5,000,000,000 and Sangsangin Investment & Securities Co.,Ltd., Investment Arm for KRW 2,000,000,000. The interest rate on the bonds is 3% and maturity rate of interest is 7%.

The bond maturity date is June 15, 2025. The bonds are fully convertible at a fixed conversion price of KRW 2,262 per share into 4,420,866 common shares from June 15, 2023 to May 15, 2025. The payment date of the transaction is June 15, 2022.

The transaction was approved by the board of directors of the company.