Trinity Airways Issues 110 Billion KRW New Type Capital Securities to Largest Shareholder to Strengthen Financial Structure
Trinity Airways resolved on June 18, 2026, to issue 110 billion KRW of new type capital securities to its largest shareholder Sonom International, with detailed terms confirmed at a management committee meeting on June 23.
The securities are subordinated unregistered unguaranteed private perpetual bonds accounted as equity, featuring a 6% coupon with a 3% step-up after two years and additional 0.5% semi-annual increases if not redeemed. The issuer may defer interest at its discretion, with deferred interest accumulating at 3% per annum.
This capital injection strengthens the balance sheet without diluting existing shareholders. However, during any interest deferral period, shareholder returns such as dividends and share buybacks are restricted, limiting short-term shareholder value but supporting long-term capital stability.
[AI Summary]Trinity Airways procured 110 billion KRW from its largest shareholder to use as operating funds, improving financial structure via capital expansion; however, interest burden and shareholder return restrictions apply. Short-term stock price impact is limited but financial stability is enhanced.
KOSPI Filing Information
[Correction of Description] Report on Major Matters (Decision to Issue Debt Securities Recognized as Capital)