SM Culture & Contents Co., Ltd. announced that it has received KRW 8 billion in funding from Dream Maker Entertainment Limited, SM Contents Investment Co., Ltd., and another investor.
October 25, 2013 at 12:00 am EDT
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SM Culture & Contents Co., Ltd. (KOSE:A048550) announced a private placement of 11th unregistered/unsecured private convertible debentures for gross proceeds of KRW 8,000,000,000 on October 16, 2013. The bonds will mature on October 31, 2016. The bonds have zero annual coupon and yield to maturity of 5%. The bonds will be convertible into common shares at a conversion price of KRW 2,968 per share. The subscription period for conversion is from November 1, 2014 to September 30, 2016.
On October 25, 2013, SM Culture & Contents Co., Ltd. closed the transaction. The round included participation from Dream Maker Entertainment Limited, SM Contents Investment Co., Ltd., and Unison Investment, which invested KRW 3,500,000,000, KRW 500,000,000, and KRW 4,000,000,000 respectively.
SM Culture & Contents Co., Ltd., formerly BT&I Travel Group.,Inc., is a Korea-based company engaged in the provision of travel management services. The Company provides meeting, incentive, convention and exhibition (MICE) tour services for corporations; online tour services through www.tourexpress.com, including air tickets and hotels reservation and individual travel scheduling services, as well as advertising services, and travel information services. On May 21, 2013, the Company merged with a Korea-based company, mainly engaged in the program producing business. On October 15, 2013, it merged with Woollim Entertainment Co Ltd, a Seoul-based manufacturer of music records.
SM Culture & Contents Co., Ltd. announced that it has received KRW 8 billion in funding from Dream Maker Entertainment Limited, SM Contents Investment Co., Ltd., and another investor.
SM CULTURE & CONTENTS CO., LTD. 
