Corpus Korea Issues 6.4 Billion KRW Convertible Bonds for Content Investment

[Asia Economy Reporter Hyunseok Yoo] Corpus Korea, a company specializing in Hallyu content, announced on the 29th through a public disclosure that it has decided to issue approximately 6.4 billion KRW worth of anonymous, unsecured private exchangeable bonds for content investment on the 28th.

Corpus Korea will issue exchangeable bonds by disposing of 1,884,551 treasury shares. The exchange price per share is 3,395 KRW, with a total amount of 6,398,056,450 KRW. The coupon rate and maturity interest rate are both 0%. The bond maturity date is June 30, 2024. The exchange request period is from July 30, 2021, to May 30, 2024. Both the subscription date and payment date are June 30, 2021.

A representative from Corpus Korea stated, “We issued exchangeable bonds to secure operating funds for more active content production and distribution. In particular, the bonds were issued at a 12% premium compared to the recent stock price, maximizing the value of utilizing our treasury shares. While production of ‘Dali and Gamjatang,’ scheduled to air in the second half of this year, is underway, we are accelerating active content investment by recently signing a license contract for the Japanese broadcasting rights of the drama ‘Now, We Are Breaking Up,’ starring Song Hye-kyo, with Samhwa Networks.”

They added, “Through these investments, we will steadily grow as a global Hallyu content company and meet market expectations.”

This content was produced with the assistance of AI translation services.