Black Yak I&C Decides to Issue KRW 15 Billion Private Convertible Bonds with Put/Call Options
Decision to issue KRW 15 billion of 2nd unregistered, interest-bearing, unsecured private convertible bonds
Maturity date undisclosed; coupon rate and yield to maturity not stated
Conversion terms (price, ratio, etc.) not disclosed (likely to be determined later)
Put option: Bondholders can demand early redemption every 3 months from 18 to 33 months after issuance at rates of 104.55% to 108.50%
Call option: Company can repurchase up to 70% of the initial issuance amount every 3 months from 12 to 18 months after issuance at exercise prices of 103.00% to 104.55%