LVMC Holdings announced a private placement of series 2 of Overseas Bearer Type Unguaranteed Private Placement Convertible Bonds for gross proceeds of KRW 36,960,000,000 on April 12, 2022. The transaction included participation from Indochina Bank Ltd. The bonds will be issued at par. The bonds will bear any interest rate of 2% and to maturity rate of 7.5% per annum. The bonds will mature on April 11, 2027. The bonds are exchangeable into 10,899,439 common shares of KR Motors Co., Ltd. at a fixed exchange price of KRW 3,391 per share from April 12, 2023 to March 11, 2027. The date of subscription and expected date of payment is April 12, 2022. The transaction is approved by the board of directors of the company. The securities issued shall be subject to hold period of 1 year.

On April 26, 2022, the company announced that the bonds will mature on April 12, 2027.