Sungwoo Hitech Co., Ltd. announced that it expects to receive KRW 10 billion in funding from The Export-Import Bank Of Korea, Investment Arm
December 19, 2017
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Sungwoo Hitech Co., Ltd. (KOSDAQ:A015750) announced a private placement of 22th tranche unregistered and unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on December 20, 2017. The transaction will involve participation from new investor The Export-Import Bank Of Korea, Investment Arm. The transaction is expected to close on December 22, 2017. The bonds will be convertible into 1,000,000 shares at a conversion price of 10,000 from March 22, 2021 to November 22, 2021. The bonds carry a coupon rate of 1.5% and a yield to maturity rate of 2.5%. The bonds will mature on December 22, 2021. The transaction was approved by the board of directors of the company.
SUNGWOO HITECH CO., LTD. is a Korea-based original equipment manufacturer (OEM) principally engaged in the provision of automobile components. The Companyâs products include bumper rails, side members, fender apron completes, center floor completes, hood assemblies, dash completes, floor panel components, package-tray centers, inner lowers, side sills, center pilers and others. It also involves in the distribution of steel products. The Company mainly distributes its products to Hyundai Motor Company, GM Daewoo Auto & Technology Company, KIA Motors Corporation and others.
SUNGWOO HITECH CO., LTD. 
