LS Cable & System Issues 200 Billion Won in Exchangeable Bonds for LS Marine Solution

Investment in Submarine Cable Facilities

On October 27, LS Cable & System announced that it would issue exchangeable bonds (EB) worth 200 billion won.

The exchangeable bonds will be exchangeable for 7,736,943 shares of LS Marine Solution held by LS Cable & System.

The exchange price is set at 25,850 won per share, with a 0% interest rate, and the maturity date is November 27, 2030.

LS Cable & System is the largest shareholder of LS Marine Solution, holding a 66.75% stake.

The funds raised through this exchangeable bond issuance are expected to be used for investments in facilities related to offshore wind power and submarine cables.

LS Cable & System is investing 1 trillion won to build the largest submarine cable factory in the United States in Virginia, while LS Marine Solution has begun constructing a dedicated vessel for HVDC (high-voltage direct current) cable laying.