Barun Technology Decides to Issue Private Convertible Bonds Worth 15 Billion KRW

[Asia Economy Reporter Minji Lee] Barun Technology announced on the 14th that it will issue the 35th series of unnamed, bearer, unsecured private convertible bonds worth 15 billion KRW. Both the nominal interest rate and the maturity interest rate are 4%.

The bondholders are Apollon E&M Co., Ltd. (10 billion KRW) and Highfields No.1 Investment Association (5 billion KRW). The conversion request period is from September 29 next year to August 29, 2023.

The company explained, "The raised funds are planned to be used as working capital for purchasing products, labor costs, and general expenses, and may later be used for early repayment of any outstanding convertible bonds."