STX Engine Co.,Ltd. announced that it expects to receive KRW 94.350660733 billion in funding from Korea Development Bank, Investment Arm, Woori Bank Co., Ltd., Investment Arm, NongHyup Bank, Investment Arm, KEB Hana Bank, Investment Arm, The Export-Import Bank Of Korea, Investment Arm, Daegu Bank
December 18, 2018
Share
STX Engine Co., Ltd. (KOSE:A077970) announced a private placement of series 11 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 94,350,660,733 on December 19, 2018. The transaction will involve participation from KEB Hana Bank, Investment Arm for KRW 25,380,105,500, NongHyup Bank, Investment Arm for KRW 23,355,303,313, The Export-Import Bank Of Korea, Investment Arm for KRW 23,476,000,000, and other investors. The bonds will mature on December 21, 2048. The bonds will carry coupon rate of 1% and yield to maturity of 1%. The bonds are fully convertible into 12,491,809 common shares for 35.19% stake in the company at KRW 7,553 per share. The conversion period will be from December 22, 2022 to November 21, 2048. The subscription date and the payment date is December 21, 2018.
STX Engine Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of diesel engines. The Company's product portfolio consists of marine diesel engines, which are used for liquefied natural gas (LNG) vessels, oil tankers, container carriers and others; power plants, including medium-speed diesel power plants and low-speed diesel power plants, and military diesel engines, including navy vessel engines, maritime police engines and others. It also engages in the manufacture of electronic communication equipment, such as underwater acoustics, radar systems, tactic communication systems, battle systems, ship automation systems and compromising trade systems.
STX Engine Co.,Ltd. announced that it expects to receive KRW 94.350660733 billion in funding from Korea Development Bank, Investment Arm, Woori Bank Co., Ltd., Investment Arm, NongHyup Bank, Investment Arm, KEB Hana Bank, Investment Arm, The Export-Import Bank Of Korea, Investment Arm, Daegu Bank
STX ENGINE CO.,LTD. 
