Smark Co.,Ltd announced that it expects to receive KRW 3 billion in funding
June 09, 2017
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Smark Co.,Ltd (KOSDAQ:A030270) announced a private placement of 18th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 3,000,000,000 on June 9, 2017. The 18th series bonds are subscribed by Thor Bolt Co., Ltd. The 18th series bonds are issued at par. The 18th series bonds have fixed coupon rate of 4% per annum and yield to maturity of 4% and have a maturity date of June 12, 2020. The 18th series bonds are 100% convertible into 1,470,538 shares at a price of KRW 2,040 per share from June 12, 2018 to May 12, 2020. The 18th series bonds have a payment date of June 12, 2017. The issuance of 18th series bonds has been approved by the board of directors of the company.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
