Orbitech Co., Ltd. announced that it expects to receive KRW 10 billion in funding from KTB Asset Management Co., Ltd, Heraz Invester Co., Ltd, SK Securities Private Equity, Susung Asset Management Co., Ltd., and another investor.
May 24, 2016
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Orbitech Co., Ltd. (KOSDAQ:A046120) announced a private placement of fourth unregistered coupon unguaranteed unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on May 25, 2016. The transaction will include participation from KTB Asset Management Co., Ltd for KRW 5,000,000,000, Heraz Invester Co., Ltd. for KRW 2,000,000,000, SK Securities Private Equity for KRW 1,000,000,000, Susung Asset Management Co., Ltd. for KRW 1,000,000,000, and Seasons Investment Limited for KRW 1,000,000,000. KTB Asset Management Co., Ltd will invest through KTB Mezzanine Private Investment Trust and KTB Mezzanine Public Stock High Yield Private Investment Trust. The convertible bonds will be issued at par and carry fixed 1% yield to maturity; with lump-sum redemption of principal on maturity date. The bonds do not carry any coupon rate. The convertible bonds will be converted at fixed conversion price of KRW 5,372 per share and the conversion period is from May 26, 2017 to May 18, 2021. The convertible bonds will mature on May 26, 2021.
Orbitech Co., Ltd., formerly Korea NonDestructive Testing Co., Ltd., is Korea-based company engaged in the provision of nondestructive testing (NDT) and other services. The Company operates in four categories of businesses: NDT business, which provides NDT services for gas pipes, oil pipes, power plants, ships, bridges, buildings, vessel and tanks; nuclear energy business, which provides radiation-related services, such as radiation management, radiation protection and decontamination, and wastes management services for facilities and utilities; environment business, which provides process development services and analysis services, such as soil, water and marine waste analysis services, and in-service inspection (ISI) business, which provides ISI services used in nuclear power plant sector.
Orbitech Co., Ltd. announced that it expects to receive KRW 10 billion in funding from KTB Asset Management Co., Ltd, Heraz Invester Co., Ltd, SK Securities Private Equity, Susung Asset Management Co., Ltd., and another investor.