HMM, Early Redemption of 600 Billion KRW Perpetual Convertible Bonds

[Asia Economy Reporter Hwang Yoon-joo] HMM announced on the 22nd that it will early redeem the 600 billion KRW perpetual convertible bonds (CB) issued four years ago.

The redemption date is December 9. The perpetual bonds were issued in March 2017 to the Korea Ocean Business Corporation and have a maturity of 30 years.

Although HMM exercised the early redemption option, if the Korea Ocean Business Corporation exercises the conversion right before the scheduled redemption date, the bonds may be converted into new HMM shares.