SG Corporation announced that it expects to receive KRW 10.5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, KEB Hana Bank, Investment Arm, Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm and other investors
March 08, 2020
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SG Corporation (KOSE:A004060) announced a private placement of episode 7 bearer bond-free private bond for gross proceeds of KRW 10,500,000,000 on March 9, 2020. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 3,400,000,000, Samsung Securities Co. Ltd., Investment Arm for 1,600,000,000, KB Securities Co., Ltd., Investment Arm for KRW 500,000,000, IBK Financial Group Synergy Ivy Mezzanine New Technology Association for KRW 2,000,000,000, KEB Hana Bank, Investment Arm for KRW 500,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 500,000,000, Shinhan Investment Corp., Investment Arm for 1,000,000,000, Seoul Investment Growth Industry Venture Association for KRW 1,000,000,000. The bond carry coupon rate of 0% and have yield to maturity of 3%. The bonds are redeemable and will mature on March 11, 2025. The bonds will be 100% converted into 6,194,690 common shares representing 14.43% of the total shares of the company at a fixed conversion price of KRW 1,695 per share. The conversion period is from March 11, 2021 to February 11, 2025. The payment date of the transaction is March 11, 2020. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of one year.
SG CORPORATION is a Korea-based company mainly engaged in the manufacture and distribution of menâs and womenâs apparels. The Company operates its business through three divisions: apparel export division, which exports men's and women's suits, casuals, leather garments, jackets, pants and shirts to clients including Gap, Target, Macy's, JCPenney, JOS.A.BANK, old navy, forever 21 and others; fashion division, which provides men's suits and women's clothes under the brand name of BASSO, BASSO homme, ab.f.z and ab.plus, and other business segment engages in the rental business. The Company distributes its products through department stores, sales agencies and discount stores.
SG Corporation announced that it expects to receive KRW 10.5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, KEB Hana Bank, Investment Arm, Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm and other investors