Seojin Automotive Co.,Ltd. announced that it expects to receive KRW 10 billion in funding
January 28, 2018
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Seojin Automotive Co.,Ltd. (KOSDAQ:A122690) announced a private placement of round two unregistered unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on January 29, 2018. The transaction will include participation from FCC Co., Ltd. The bonds will not bear any coupon and will have a yield to maturity rate of 2%. The bonds issued will mature on January 31, 2021. The bonds are 100% convertible into 1,724,137 shares of the company at a conversion price of KRW 5,800 per share. The conversion period will start from March 21, 2019 to December 31, 2020. The subscription date of the bonds is January 29, 2018. The transaction is expected to close on January 31, 2018. The transaction has been approved by the board of directors of the company. The bonds will be issued at par.
Seojin Automotive Co., Ltd. is a Korea-based company engaged in the manufacture and distribution of automobile parts. The Company, along with its subsidiaries, mainly provides clutches, CAM shafts, cowls, bumpers, main cores, consoles, mounts, dampers, lower arms, spring pads, bearings, weather strips, glass runs, hoses, hoods, rear beams, under body skid plates, side sills, load floors, steering wheels, flywheels, metal molds, wheel covers and others, which are applied in the automobile transmission, brake and engine systems, automobile body and others. In addition, it is involved in the import and export of automobile parts. The Companyâs main clients include Hyundai Motor Co., Ltd, KIA Motors Corporation, Hyundai Mobis Co., Ltd and others.
SEOJIN AUTOMOTIVE CO.,LTD. 
