Daekyung Machinery & Engineering Co., Ltd. announced that it expects to receive KRW 5 billion in funding from Q Capital Partners Co., Ltd.
December 04, 2017
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Daekyung Machinery & Engineering Co., Ltd. (KOSE:A015590) announced a private placement of 6th series domestic unregistered coupon unguaranteed convertible bonds for gross proceeds of KRW 5,000,000,000 on December 5, 2017. The transaction will include participation from Q Capital Partners Co., Ltd. The bonds will be issued at par and does not carry a coupon. The bonds have a yield to maturity of 5% and would mature on December 6, 2020.
The bonds will be fully convertible into shares of the company at a fixed conversion price of KRW 557 per share between the period of December 6, 2018 to November 6, 2020. The securities are restricted for period of one year from issuance The payment date is December 6, 2017. The transaction has been approved at the board of directors of the company.
Q Capital Partners Co., Ltd. is a Korea-based company mainly engaged in the venture investment business and provision of financial related services. The Company is involved in the venture investment business, which provides the investment and financing services for new technology operators; corporate restructuring business, which provides the investment, acquisition and normalization of financially distressed companies; mergers and acquisitions (M&A), which provides strategy to motivate and promote business expansions, as well as investment fund business, which maintains operational stability of funds and manages investment risks. On March 17, 2014, the Company announced that it sold entire shares of Onse Telecom Corp.
Q CAPITAL PARTNERS CO., LTD. 
