Castec Korea Co.,Ltd announced that it expects to receive KRW 10 billion in funding
June 07, 2021
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Castec Korea Co.,Ltd (KOSDAQ:A071850) announced a private placement of round 6 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000 on June 8, 2021. The transaction will include participation from Yeong-seok Jeon. The bonds carry 1% coupon rate and 1% yield to maturity and will mature on June 25, 2024. The bonds will be issued at par. The bonds can be 100% converted into 2,767,783 common shares of the company at a fixed conversion price of KRW 3,613 per share. The conversion period is from June 25, 2022 to May 25, 2024. The transaction has been approved by board of directors. The bonds are subject to a lock up period of one year.
CASTEC KOREA CO.,LTD is a Korea-based company principally engaged in the manufacture and distribution of automobile parts. The Companyâs products portfolio consists of turbo charger system parts, such as turbine housings and center housings, air conditioner compressor parts, electrical parts, such as scroll and rotary parts, cylinders, main bearings, cranks shafts and others, automotive parts, pump and motor parts, as well as other automobile parts, such as braking disks, caliper housing, knuckles and others. It distributes its products within domestic market and to overseas markets.
CASTEC KOREA CO.,LTD 
