Lotte Tour Development Co., Ltd. announced a private placement of round 8-1 zero coupon unregistered unguaranteed coupon private convertible bond for gross proceeds of KRW 70,000,000,000 and 8-2 unregistered private placement convertible bond for gross proceeds of KRW 10,000,000,000 for aggregate gross proceeds of KRW 80,000,000,000 on November 24, 2021. The transaction will involve participation from new investor NV8 Holdings, Ltd for round 8-1 bonds. The bonds being issued are 100% convertible at a conversion price of KRW 18,231 per share.

The conversion period starts from November 29, 2022 and ends on November 24, 2025. The bonds will bear maturity interest rate of 4.5%. The transaction has been approved by the board of directors of the company.

The bonds will mature on November 29, 2025. The transaction is expected to close on November 29, 2021.