SEOJIN SYSTEM CO.,LTD KRW 60 billion private convertible bond recognized as equity, maturing 2056

What happened

Seojin System decided to issue KRW 60.0 billion of convertible bonds (bonds that can later be turned into shares). This is a private placement, so the bonds are sold to a small group of buyers rather than the public. The bond is named the 45th unsecured private convertible bond.

In the company's terms

Two buyers will take the bonds. Vilans-Orion SJ Mezzanine New Technology Investment Partnership will take KRW 30.0 billion. Kiwoom Securities Co., Ltd. will take KRW 30.0 billion. The money raised is classified as other funds.

What changes for shareholders

The coupon rate is 2.0%. The yield at maturity is 5.0%. The company has a call option (a right to buy back bonds) of up to KRW 12.0 billion, described in the materials as Call option 20%.

The board approved the deal on 2026.11.06. The maturity date is fixed at 2056.11.16. If the bonds are converted into shares, the number of shares can increase. The materials do not give the conversion price or conversion terms.