Shinhan Seobu T&D REIT Co., Ltd. announced a private placement to issue Series 2 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 35,000,000,000 on February 22, 2024. The transaction will include participation from returning investor Seobu T&D Co., Ltd. for KRW 15,000,000,000, new investors NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 1) for KRW 11,000,000,000, NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 2) for KRW 4,000,000,000, Mirae Asset Securities Co., Ltd. (in the fiduciary position of Fund 3) for KRW 2,000,000,000, KB Securities Co., Ltd. (In the fiduciary position of Fund 4) for KRW 1,000,000,000 and Korea Investment & Securities Co., Ltd. for KRW 2,000,000,000. The bonds bear 3% coupon rate and 6% maturity rate and matures on February 26, 2027.

The transaction has been approved by the shareholders of the company and is expected to close on February 26, 2024. The bonds are 100% convertible into 9,269,067 shares at a fixed conversion price of KRW 3,776 from February 26, 2025 to January 26, 2027. The securities are restricted to a hold period.