Jeil Technos Co. Ltd. announced that it expects to receive KRW 5.6 billion in funding from Synergy Partners Co., Ltd.
October 07, 2016
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Jeil Technos Co. Ltd. (KOSDAQ:A038010) announced a private placement of bonds for gross proceeds of KRW 5,600,000,000 on October 7, 2016. The company will issue first unregistered/unsecured coupon unguaranteed private convertible bonds for KRW 3,300,000,000 and second domestic unregistered coupon unguaranteed private placement exchangeable bonds for KRW 2,300,000,000. The transaction will include participation from new investor Synergy Partners Co., Ltd. The bonds will be issued at par. The bonds will not bear any coupon and yield to maturity. The first series bonds will mature on October 11, 2021 and second series bonds will mature on October 11, 2019. The first bonds can be fully converted into common shares of the company at a fixed conversion price of KRW 6,470 per share from October 11, 2017 to September 11, 2021. The second bonds are fully exchangeable into common shares of the company at a fixed price of KRW 6,020 per share from November 11, 2016 to September 11, 2019. The subscription date for second bonds is October 7, 2016. The payment date of the transaction is October 11, 2016. The board of directors of the company has approved the transaction.
JEIL TECHNOS.CO.,LTD is a Korea-based company engaged in the manufacturing of steel products for construction industry. The Company operates its business under three divisions: deck plate, shipbuilding and plant. The deck plate division provides truss decks, super light weight air balled flat (SLAF) plate decks and other compound decks under the brand names of N.T. DECK, KEM DECK and others, which are mainly used as steel-frame structure materials. The shipbuilding division provides steel processing services such as shot blast and steel cutting services, which are applied to steel plates used in bridges and ships. The plant division provides structural metal plates for used plant construction.