Air Busan Issues Convertible Bonds Worth 30 Billion KRW

[Asia Economy Reporter Kang Nahum] Air Busan announced on the 24th that it has issued 30 billion KRW worth of anonymous, interest-bearing, unsecured private perpetual convertible bonds to its largest shareholder, Asiana Airlines, to raise operating funds.

The nominal interest rate and maturity interest rate are both 7.2%, with a maturity date of June 24, 2051.

The conversion price is 3,527 KRW, and the shares to be issued upon conversion amount to 8,505,812 shares, representing 9.4% of the total number of shares. The conversion request period is from June 25, 2022, to May 24, 2051.