NIBEC Co., Ltd. announced a private placement of round 8 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 25,000,000,000 on November 18, 2022. The bonds are zero coupon bonds and have a yield to maturity of 3% and will mature on November 22, 2027. The bonds are 100% convertible into 1,180,637 common shares at a conversion price of KRW 21,175 per share.

The conversion period of the bonds starts on November 22, 2023 and ends on October 22, 2027. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 5,500,000,000, KB Securities Co., Ltd., Investment Arm for KRW 6,300,000,000, Mirae Asset Securities Co. Ltd. for KRW 2,200,000,000, Samsung Securities Co.

Ltd., Investment Arm for KRW 3,500,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 4,500,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 1,000,000,000, DB Financial Investment Co.,Ltd., Investment Arm for KRW 1,000,000,000 and Ace Susung New Technology Fund 16 for KRW 1,000,000,000. The transaction has been approved by the board of directors of the company. The subscription date and payment date of the transaction is November 22, 2022.

The bonds are subject to conversion for one year from the date of issue of bonds and prohibition of splitting and merging of recommendations.