Korea Parts & Fasteners Co.,Ltd announced that it expects to receive KRW 20 billion in funding from Focus Asset Management Co., Ltd., Asam Asset Management Co., Ltd., Hanyang Securities Co., Ltd., Investment Arm, SUSUNG ASSET MANAGEMENT Co., Ltd., Mirae Asset Securities Co., Ltd., Tiger Investment Advisory Co.,Ltd. and other investors
July 15, 2021
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Korea Parts & Fasteners Co.,Ltd announced a private placement of round 8 Non-guaranteed Private Equity Convertible Bonds with Bearer Type Interest Part for gross proceeds of KRW 20,000,000,000 on July 16, 2021. The transaction will include participation from Asam Asset Management Co., Ltd. for KRW 2,500,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 500,000,000, Mirae Asset Securities Co., Ltd. for KRW 1,000,000,000, funds managed by Focus Asset Management Co., Ltd., Tiger Investment Advisory Co.,Ltd., J&J Asset Management, Asam Asset Management, Suseong Asset Management and GB A Asset Management. The bonds are zero coupon bonds with no yield to maturity, are being issued at par value and will mature on July 20, 2026.
The bonds are fully convertible into 3,897,875 common shares at a conversion price of KRW 5,131 per share from July 20, 2022 to June 20, 2026. The transaction has been approved by the board of directors of the company. The subscription and payment of the transaction is on July 20, 2021.
The bonds are subject to a hold period of one year.
Korea Parts & Fasteners is a Korea-based company engaged in the manufacturing and distribution of bolts, nuts and other forging products. The Companyâs products portfolio consists of high torque (H/T) bolts, tensile control (T/C) bolts, structural bolts and couplings, which are used in construction works; heavy hex bolts, heavy hex nuts and stud bolts, which are used in petrochemical plants; flange nuts, flange screws, castle nuts, cylinder head bolts and others, which are used in heavy equipment; bearing inner and outer races, gear blanks, pinion gears and others, which are used for automobiles, as well as foundation anchor bolts, barrel nuts and others, which are used in wind power plants. The Company also involves in the building leasing business.
Korea Parts & Fasteners Co.,Ltd announced that it expects to receive KRW 20 billion in funding from Focus Asset Management Co., Ltd., Asam Asset Management Co., Ltd., Hanyang Securities Co., Ltd., Investment Arm, SUSUNG ASSET MANAGEMENT Co., Ltd., Mirae Asset Securities Co., Ltd., Tiger Investment Advisory Co.,Ltd. and other investors