L&F to Issue 100 Billion KRW Convertible Bonds with Private Equity Fund IMM

LNDF announced on the 16th that it will repurchase and cancel convertible bonds (CB) worth 100 billion KRW issued in 2021 with private equity firm IMM, and then issue new bonds.

IMM Credit & Solution, a subsidiary of IMM Holdings, is participating in the investment through the blind fund 'KBE (Korea Battery & ESG) Fund' it established.

LNDF stated, "Although there is short-term uncertainty within the industry due to the recent unstable market environment and the chasm (temporary demand stagnation) period, IMM has a strong intention to continue investing by believing in LNDF's future growth value rather than recovering the principal, which led to the decision to issue this bond."

LNDF plans to secure financial soundness by repurchasing and then canceling the previously issued CB. The company explained that the newly issued bonds will be issued next year so as not to worsen the current financial structure.