Etron Issues Private CB Worth 35 Billion KRW

[Asia Economy Reporter Kwon Jaehee] E-Tron announced on the 30th that it will issue 35 billion KRW worth of unnamed, bearer, unsecured private convertible bonds (CB).

The coupon rate is 2.0%, the maturity interest rate is 7.0%, and the conversion price is 261 KRW. The shares issued upon conversion amount to 20.26% of the total number of shares. The conversion request period is from May 30, next year, to May 28, 2027.

The company stated, "We plan to lend 30 billion KRW to KIT Co., Ltd., an affiliate of a major shareholder, or acquire corporate bonds, and the remaining 5 billion KRW will be used as operating funds."