Jaysco Holdings Completes 40 Billion KRW CB Payment... "Secures Liquidity"

Jaysco Holdings announced on January 16 that it has completed the payment for its 4th convertible bond (CB) issuance, totaling 40 billion KRW.

This round of fundraising was led by Leading Investment & Securities, with its affiliates and financial investors completing the payment through a special purpose company (SPC). Based on this, the company expects to gain momentum in improving its financial structure. Of the 40 billion KRW raised, 33 billion KRW will be used to repay loans, which is expected to reduce the debt ratio from 94.97% as of the third quarter to below 75%. The remaining funds will be used for purchasing raw materials and operating overseas subsidiaries.

A company representative stated, "Despite challenging market conditions, we have successfully completed a large-scale fundraising," and added, "With the 40 billion KRW secured, we will repay the increased borrowings caused by delays in the commercial mining schedule of our nickel mining project, which will reduce our financial costs."

The representative continued, "By securing liquidity, we will improve our debt ratio and reduce interest burdens, thereby establishing a stable financial and business foundation. We will continue our efforts to enhance shareholder value and corporate value through visible achievements."

Jaysco Holdings has set its sights on a second leap forward, aiming to distribute and sell nickel ore in partnership with domestic and international raw material companies. The Philippine mining development project is currently in the final stages of construction for necessary facilities, including roads, storage yards, and staff accommodations and offices for nickel ore mining and transportation. The last remaining dock construction is also progressing as planned, and full-scale commercial mining is expected to begin in February 2025.

A company representative explained, "Currently, China controls most of the domestic nickel value chain from mining to refining," and added, "Jaysco Holdings plans not only to export nickel ore based on its Philippine mining business, but also to pursue refining operations in consultation with the Philippine government. Through these efforts, we aim to establish ourselves as a key player in the global nickel market."

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