Pusan Cast Iron Co., Ltd. announced a private placement of series 11 unsecured privately placed convertible bonds with bearer interest on February 3, 2023. The transaction will include participation from returning investor, Jungdo Foundation. The series 11 bonds will be issued through yearning method and will have a coupon rate of 3% and yield to maturity rate of 5% maturing on February 7, 2025.

The bonds will be fully convertible into 3,930,817 common shares at an issue conversion price of KRW 636 per share between the period starting from February 7, 2024 and ending on January 7, 2025. The securities have a lock-up period of one eyar from the date of issuance. The transaction has been approved by board of directors of the company.

The expected date of payment is February 7, 2023.