Kuk-Il Paper Mfg Co.,Ltd announced that it expects to receive KRW 3 billion in funding from IBK Capital Corporation
March 11, 2019
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Kuk-Il Paper Mfg Co.,Ltd (KOSDAQ:A078130) announced a private placement of series 5th unregistered unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on March 12, 2019. The transaction will include participation from IBK Capital Corporation for KRW 2,000,000,000 and Yen H investments securities Corporation for KRW 1,000,000,000. The note carries a fixed coupon rate of 1% per annum, 5% yield to maturity and would mature on March 14, 2022. The bonds can be 100% converted into 2,775,208 common shares for 2.38% stake of the company at a fixed conversion price of KRW 1,081 per share. The conversion period is from March 14, 2020 to February 14, 2022. The transaction is expected to close on March 14, 2019. The transaction was approved by the board of directors of the company.
KUK-IL PAPER MFG CO.,LTD is a Korea-based company specialized in the manufacture and distribution of paper products. The Companyâs products include food wrapping paper products used for wrapping candies, gums, hamburgers, ice creams and others; specialty paper products and industrial paper products, including paper products for steel plates and liquid crystal display (LCD) glasses, wall paper products, dust-free paper products and others; sanitary paper products, such as sterilizing paper products and dental paper products, and cigarette paper products, including cigarette filter paper products and paper used to roll cigarettes. The Company distributes its products within domestic market and to overseas markets.
KUK-IL PAPER MFG CO.,LTD 
