DAE-IL Corporation announced that it expects to receive KRW 4 billion in funding from IBK Securities Co. Ltd., Investment Arm, and another investor
July 19, 2021
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DAE-IL Corporation announced a private placement of 8th series non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 4,000,000,000 on July 20, 2021. The transaction will involve participation from IBK Securities Co. Ltd., Investment Arm for KRW 2,000,000,000 and SP The banks 1 Professional Investment Type Private Equity Trust for KRW 2,000,000,000. The bonds will carry no coupon rate and a yield to maturity of 3%. The bonds will mature on July 21, 2024. The bonds are fully convertible into 566,251 shares at an issue price of KRW 7,064 per share for 1.44% stake from July 21, 2022 to June 21, 2024. The payment date of the transaction is July 21, 2021. The transaction was approved by the board of directors of the company. The bonds will have a hold period of one year, post the closing.
DAE-IL Corporation is a Korea-based company mainly engaged in the manufacture of automobile parts and heavy equipment parts. The Company mainly provides three categories of products: automobile parts, which include diff sub-assemblies, clutch shafts, planet carrier shafts, oil pump gears, reaction shaft assemblies and others used for transmissions and engines of passenger cars and commercial vehicles; heavy equipment parts, such as transaxle and drive axle assemblies for transmissions of heavy equipment, such as forklifts, and motorcycle parts, which include engines and transmission assemblies for motorcycles and industrial machines. The Company distributes its products within domestic market and to overseas markets.
DAE-IL CORPORATION 
