Kuk-Il Paper Mfg Co.,Ltd announced a private placement of series 8th unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 21, 2022. The transaction will include participation from KB Securities Co., Ltd. for KRW 2,000,000,000, Best Investment & Securities Co., Ltd. for KRW 1,000,000,000, BNK Investment & Securities Co., Ltd. for KRW 1,000,000,000, DB Financial Investment Co., Ltd. for KRW 1,000,000,000, Mirae Asset Securities Co., Ltd. for KRW 2,000,000,000 , Samsung Securities Co. , Ltd. fund 1 and Fund 2 for KRW 1,000,000,000 each, Korea Investment & Securities Co.

, Ltd. for KRW 600,000,000 and Small and Medium Business Bank for KRW 400,000,000. The note carries a fixed coupon rate of 0% per annum, 1% yield to maturity and would mature on April 29, 2027. The bonds can be 100% converted into 2,914,602 common shares for 2.28% stake of the company at a fixed conversion price of KRW 3,431 per share.

The conversion period is from April 29, 2023 to March 29, 2027. The transaction is expected to close on March 14, 2019. The transaction was approved by the board of directors of the company.

The transaction is expected to close on April 29, 2022.