Husentec Decides to Issue Convertible Bonds Worth 50 Billion KRW

[Asia Economy Reporter Ryu Taemin] Huesentec announced on the 3rd that it has decided to issue 50 billion KRW of privately placed convertible bonds (CB) to Meritz Securities.

Of the total raised funds, 30 billion KRW will be used for new business investments, 10 billion KRW for general operating expenses, and the remaining 10 billion KRW for general facility funds.

The coupon rate is zero, and the maturity interest rate is 1.5%. The bond maturity date is September 7, 2024, and the conversion price is 2,645 KRW.

The shares to be issued upon conversion amount to 18,903,591 shares, representing 23.54% of the total shares. The conversion request period is from September 8, 2023, to August 7, 2024.