YooSung TNS Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Apple Tree D&I Co., Ltd., Apple E&C Co., Ltd.
July 13, 2018
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YooSung TNS Co., Ltd. (KOSDAQ:A024800) announced a private placement of series 31 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on July 13, 2018. The transaction will involve participation from individual investors Bong-Kwan Lee for KRW 1,250,000,000, Eun-Hee Lee for KRW 200,000,000, Soung-Hee Lee for KRW 150,000,000, Do-Hee Lee for KRW 100,000,000, Apple E&C Co., Ltd. for KRW 2,000,000,000, and returning investor Apple Tree D&I Co., Ltd. for KRW 6,300,000,000. The bonds will carry a coupon rate and yield to maturity of 4.5% each. The bonds will be fully convertible into 2,849,001 shares of the company at a conversion price of KRW 3,510 per share from July 18, 2019 to June 18, 2021. The subscription date as well as payment date of the transaction is July 18, 2018. The bonds will mature on July 18, 2021. The transaction was approved by the board of directors of the company.
YOOSUNG T&S CO., LTD is a Korea-based company mainly engaged in the logistics and steel products manufacturing businesses. The Company operates its business through three main divisions: logistics division, steel division and distribution division. Its logistics division provides road and railway transportation of steel products, containers and other bulk cargos; harbor services, including loading and unloading services; vehicle maintenance and repair services; gas filling services, as well as office rental services. Its steel division manufactures steel pipes, steel sheets and others, which are used for bridges, ships, steel structures, automobiles, factories, ports and others. Its distribution division operates resting places, which distribute food, beverages and others. It also provides heat exchangers, as well as sells electrical and gas air conditioners.
YOOSUNG T&S CO., LTD 
