S&T Motors Co., Ltd. announced that it has received KRW 33.3 billion in funding from Heungkuk Life Insurance Co Ltd, Kolao Holdings, and another investor.
March 25, 2014 at 12:00 am EDT
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S&T Motors Co., Ltd. (KOSE:A000040) announced a private placement of 45th unsecured private convertible bonds for gross proceeds of KRW 33,300,000,000 on March 21, 2014. The bonds will have an interest rate of 0% per annum and yield to maturity of 5.5%. The bonds will mature on March 25, 2017. The transaction was approved by the board of directors. The bonds will be convertible into common shares at KRW 595 per share from March 25, 2015 to March 20, 2017. The payment date for the transaction is March 25, 2014.
On March 25, 2014, S&T Motors Co., Ltd. closed the transaction. The round included participation from existing investors Kolao Holdings and Se-Young Oh along with Heungkuk Life Insurance Co Ltd. Kolao Holdings invested KRW 15,000,000,000, Se-Young Oh invested KRW 10,000,000,000, and Heungkuk Life Insurance Co Ltd invested KRW 8,300,000,000 in the transaction.
KR MOTORS, formerly S&T MOTORS CO., LTD., is a Korea-based company engaged in the manufacture and marketing of motorcycles. The Companyâs motorcycles include road sports type, street bike type, cruiser type and electric scooter type. The Company also engages in the manufacture of motorcycle components. The Company distributes its products within domestic market and to overseas markets, including America, Europe, Australia and others.
S&T Motors Co., Ltd. announced that it has received KRW 33.3 billion in funding from Heungkuk Life Insurance Co Ltd, Kolao Holdings, and another investor.
KR MOTORS CO., LTD. 
