Mugunghwa Information Technology Co., Ltd. announces private placement of series 28 Bearer-type non-guaranteed private convertible bonds for a principal amount of KRW 4,000,000,000 on February 6, 2024. The bonds bear a coupon rate of 2% and Yield to Maturity of 2%. The bonds will mature on February 7, 2027.

The transaction has been approved by the board of the company. Interest on the bonds will be payable on May 7, 2024, August 7, 2024, November 7, 2024, February 7, 2025, May 7, 2025, August 7, 2025, November 7, 2025, February 7, 2026, May 7, 2026, August 7, 2026, November 7, 2026, February 7, 2027. The bonds will be convertible 4,907,975 shares at a conversion price of KRW 815 per share from February 8, 2025 to January 7, 2027.

The transaction is expected to close on February 7, 2024. The transaction will include participation from Inter Paper & Pulp Co. Ltd.