By Angela McDaniels
Tacoma, Wash., April 20 - Kumho Tire Co., Inc. priced KRW 80 billion of convertible bonds due May 11, 2012 with warrants on Monday, according to a company news release.
The bonds have a coupon of 7% and a yield to maturity of 10%.
The bonds will be convertibles into common shares at KRW 5,650 per share from Aug. 11 to April 11, 2012.
Daewoo Securities Co., Ltd. is the underwriter.
Proceeds will be used for working capital.
Kumho Tire is a Seoul, South Korea-based maker of tires for passenger cars, SUVs, trucks and off-road vehicles.
| Issuer: | Kumho Tire Co., Inc.
|
| Issue: | Convertible bonds
|
| Amount: | KRW 80 billion
|
| Maturity: | May 11, 2012
|
| Underwriter: | Daewoo Securities Co., Ltd.
|
| Coupon: | 7%
|
| Yield: | 10%
|
| Conversion price: | KRW 5,650
|
| Pricing date: | April 20
|
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