By Mary-Katherine Stinson
Lexington, Ky., April 27 – L&F Co., Ltd. issued $500 million 2.5% convertible bonds due April 26, 2030, according to a prospectus.
Bondholders may convert the bonds starting June 6 at the initial conversion price of KRW 438,100 per share.
The bonds are putable on April 26.
J.P. Morgan Securities plc was the bookrunner.
Proceeds will be used for construction of new manufacturing facilities to increase production capacities, purchase raw materials and general working capital purposes.
Daegu, South Korea-based L&F Co. manufactures and sells electronic components, mainly providing positive electrode active materials for secondary batteries.
| Issuer: | L&F Co., Ltd.
|
| Amount: | $500 million
|
| Issue: | Convertible bonds
|
| Maturity: | April 26, 2030
|
| Bookrunner: | J.P. Morgan Securities plc
|
| Trustee: | Citicorp International Ltd.
|
| Counsel to issuer: | Paul Hastings LLP and Lee & Ko
|
| Counsel to underwriters: | Latham & Watkins LLP and Shin & Kim LLC
|
| Coupon: | 2.5%
|
| Price: | Par
|
| Yield: | 2.5%
|
| Conversion price: | KRW 438,100
|
| Change of control: | At par
|
| Puts: | April 26, 2028
|
| Trade date: | April 19
|
| Settlement date: | April 26
|
| Distribution: | Regulation S
|
| Stock symbol: | Kosdaq: 066970
|
| Stock price: | KRW 337,000 on April 19
|
| Market capitalization: | KRW 9.94 trillion
|
| ISIN: | XS2615199176
|
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