Hanil Vacuum Co., Ltd. announced that it expects to receive KRW 5 billion in funding from NK Partners, Hyundai Savings Bank Co., Ltd.
January 23, 2017
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Hanil Vacuum Co., Ltd. (KOSDAQ:A123840) announced a private placement of 5th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on January 24, 2017. The transaction will include participation from investors, NK Partners will invest KRW 3,000,000,000, and Hyundai Savings Bank Co., Ltd. will invest KRW 2,000,000,000. The transaction carry zero coupon rate and has yield to maturity of 3.2%. The 5th series unregistered and unsecured private convertible bonds will be 100% convertible into common shares at a conversion price of KRW 3,270 from January 25, 2018 to December 25, 2019. The 5th series unregistered and unsecured private convertible bonds will mature on January 25, 2020. The transaction has been approved by the board of directors of the company. The transaction will close on January 25, 2017.
Nuon Co Ltd, formerly Hanil Vacuum Co Ltd, is a Korea-based company engaged in the manufacturing and distribution of vacuum deposition apparatuses. The Company operates its business through two segments. The Manufacturing segment develops, produces and distributes vacuum deposition apparatuses and related components used for mobile phones, digital cameras and semiconductor industries. The Environmental segment is engaged in the organic waste feedstuff and composting as well as resource recycling.