NK Co., Ltd. announced that it has received KRW 2 billion in funding from Busan Bank Co., Ltd.
September 10, 2013 at 12:00 am
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NK Co., Ltd. (KOSE:A085310) announced a private placement of series 6 registered coupon unsecured private convertible debentures for gross proceeds of KRW 2,000,000,000 with existing investor, Busan Bank Co., Ltd. on September 10, 2013. The bonds will carry a coupon rate of 1%, yield to maturity of 5.50%, and will mature on March 10, 2017. The debentures have a yield to maturity of 5.50%. The debentures will be convertible into registered common shares of the company from September 10, 2014 to February 10, 2017 at KRW 20,000 per share. The debentures have one year conversion and split prohibition. The subscription date and the payment date for the debentures are September 10, 2013.
On September 10, 2013, NK Co., Ltd. closed the transaction.
NK CO., LTD. is a Korean company principally engaged in the manufacture and provision of fire extinguishing systems and high pressure gas cylinders. The Company operates its businesses through fire extinguishing system division, which provides carbon dioxide (CO2) systems for car carriers and engine rooms, loose fire fighting systems used as portable fire extinguishers for small scale fire, foam systems, dry powder systems and others; high pressure gas cylinder division, which provides industrial high pressure gas cylinders, compressed natural gas (CNG) fuel cylinders and industrial special gas cylinders, among others; ballast water treatment division, which provides ballast water treatment facilities, including ozone systems, filtration and electrolysis systems and others, and plant division, which mainly provides plant engineering services and relevant facilities. On December 18, 2013, the Company sold its entire shares of ENK CO., LTD.
NK CO., LTD. 
