Yoosung T&S Co., Ltd announced that it expects to receive KRW 14 billion in funding from Hanilasset Management
May 18, 2020
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YooSung TNS Co., Ltd. (KOSDAQ:A024800) announced a private placement of series 33 non-guaranteed private equity convertible bonds for gross proceeds of KRW 14,000,000,000 on May 19, 2020. The transaction will involve participation from individual investors Lee Bong Kwan for KRW 2,000,000,000, Eunhee Lee for KRW 800,000,000, Sunghee Lee for KRW 650,000,000, Lee Do-heef or KRW 550,000,000 and returning investor Hanilasset Management for KRW 10,000,000,000. The bonds will carry a coupon rate and surface interest rate of 3.5% each. The bonds will be fully convertible into 5,749,485 shares of the company at a conversion price of KRW 2,435 per share from May 26, 2021 to April 26, 2023. The subscription date as well as payment date of the transaction is May 26, 2020. The bonds will mature on May 26, 2023. The transaction was approved by the board of directors of the company.
YOOSUNG T&S CO., LTD is a Korea-based company mainly engaged in the logistics and steel products manufacturing businesses. The Company operates its business through three main divisions: logistics division, steel division and distribution division. Its logistics division provides road and railway transportation of steel products, containers and other bulk cargos; harbor services, including loading and unloading services; vehicle maintenance and repair services; gas filling services, as well as office rental services. Its steel division manufactures steel pipes, steel sheets and others, which are used for bridges, ships, steel structures, automobiles, factories, ports and others. Its distribution division operates resting places, which distribute food, beverages and others. It also provides heat exchangers, as well as sells electrical and gas air conditioners.
YOOSUNG T&S CO., LTD 
