KR Motors Co., Ltd. announced that it expects to receive KRW 20 billion in funding from KDB Capital Corporation, Investment Arm, Hyundai Savings Bank Co.,Ltd., SBI Savings Bank Inc., Investment Arm, Kyobo Securities Co., Ltd., Investment Arm, Eugene investment & Securities Co., Ltd., Investment Arm
March 26, 2015
Share
KR Motors Co., Ltd. (KOSE:A00040) announced a private placement of 46th unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on March 26, 2015. The bonds will mature on March 27, 2019. The bonds will have yield to maturity of 4% per annum and will not carry any coupon rate. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 1,420 per share. The conversion period will start from March 27, 2016 and will end on March 20, 2019. The transaction will include participation from new investors, Eugene investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Kyobo Securities Co., Ltd., Investment Arm for KRW 5,500,000,000, SBI Savings Bank Inc., Investment Arm for KRW 5,500,000,000, Hyundai Savings Bank Co.,Ltd. for KRW 3,000,000,000, and KDB Capital Corporation, Investment Arm for KRW 3,000,000,000. The transaction has been approved by the board of directors of the company.
On June 26, 2015, the company announced that it has amended the conversion price of 46th unsecured private convertible bonds to KRW 1,110 per bond.
On September 25, 2015, the company announced that it has amended the conversion price of the bonds to KRW 1,004 per bond. The effective date of the conversion price will be September 27, 2015.
KR MOTORS, formerly S&T MOTORS CO., LTD., is a Korea-based company engaged in the manufacture and marketing of motorcycles. The Companyâs motorcycles include road sports type, street bike type, cruiser type and electric scooter type. The Company also engages in the manufacture of motorcycle components. The Company distributes its products within domestic market and to overseas markets, including America, Europe, Australia and others.
KR Motors Co., Ltd. announced that it expects to receive KRW 20 billion in funding from KDB Capital Corporation, Investment Arm, Hyundai Savings Bank Co.,Ltd., SBI Savings Bank Inc., Investment Arm, Kyobo Securities Co., Ltd., Investment Arm, Eugene investment & Securities Co., Ltd., Investment Arm