Lotte Tour Development Co., Ltd. announced that it expects to receive KRW 71.544 billion in funding from Linden Advisors LP, Lmr Partners Limited
September 10, 2019
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Lotte Tour Development Co., Ltd. (KOSE:A032350) announced a private placement of convertible bonds due 2023 for gross proceeds of KRW 71,544,000,000 on September 11, 2019. The transaction will involve participation from new investors, Linden Advisors LP for KRW 47,696,000,000 and Lmr Partners Limited for KRW 23,848,000,000. The bond bears a coupon rate of 5% per annum and will mature on September 20, 2023. The bonds are fully convertible at a conversion price of KRW 15,000 per share into 4,769,600 shares for 6.46% of total shares. The conversion period starts from September 20, 2020 and ends on August 21, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to close on September 20, 2019.
Lotte Tour Development Co Ltd is a Korea-based company mainly engaged in the provision of travel services. The Company operates its business in four segments. The Travel Business segment is engaged in the sale of travel products such as packaging tours, theme tours, independent tours, honeymoon tours, golf tours, cruises and others. The Pre-Sale Agency segment mainly engages in real estate rental business. The Casino segment is engaged in the casino business. The Internet Information Service segment provides services such as airline tickets and hotel reservation services, and other travel-related services and travel information.
LOTTE TOUR DEVELOPMENT CO., LTD. 
