Forbes TNC Decides to Issue 10 Billion KRW Convertible Bonds

[Asia Economy Reporter Eunmo Koo] Forbis T&C announced on the 17th that it has decided to issue the 84th series of unnamed, coupon-bearing, unsecured private convertible bonds (CB) worth a total of 10 billion KRW to raise 5 billion KRW for debt repayment and 5 billion KRW for acquiring securities of other corporations. The bonds have a nominal interest rate of 2.0% and a maturity interest rate of 3.0%, with a maturity date of December 17, 2023. Upon conversion, 9,345,794 shares will be issued, representing 9.74% of the total shares outstanding, with a conversion price of 1,070 KRW per share.