Hyundai Rotem KRW 240bn convertible bonds (2020)
KRW 165bn working capital and KRW 75bn debt repayment
Key terms
- Borrower or issuer
- Hyundai Rotem
- Date
- 17 Jun 2020
- Type
- Convertible
- Amount
- KRW 240bn (US$203m)
- Pricing
- 1.00% coupon; 3.70% yield to maturity
- Maturity
- 2023-06-17
Recorded terms
- Structure
- Public convertible bonds (No. 30) offered to existing shareholders first, then the public; conversion from 17 Jul 2020 to 17 May 2023
- Lenders and arrangers
- Underwriters: NH Investment & Securities, Hyundai Motor Securities
- Country
- South Korea
Parties
- Hyundai Rotem borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 20 Aug 2020 | Parsons US$350m 0.25% convertible senior notes due 2025 | Convertible | US$350m |
| 13 Nov 2018 | KBR US$350m 2.50% convertible senior notes due 2023 | Convertible | US$350m |
| 31 Oct 2022 | Ondas Holdings US$34m convertible senior notes | Convertible | US$34.5m |
| 31 Jan 2023 | Rheinmetall €1bn convertible bonds (2028 and 2030 series) | Convertible | €1bn |
| 9 Dec 2016 | Aerojet Rocketdyne US$300m 2.25% convertible senior notes due 2023 | Convertible | US$300m |
More from Hyundai Rotem
| Date | Financing | Type | Amount |
|---|---|---|---|
| 4 Nov 2025 | Hyundai Rotem KRW 50bn unsecured bonds (2025) | Bond | KRW 50bn |
| 7 Sep 2023 | Hyundai Rotem KRW 45bn unsecured bonds (2023) | Bond | KRW 45bn |
| 19 Jan 2022 | Hyundai Rotem KRW 165bn unsecured bonds (2022) | Bond | KRW 165bn |
| 28 Jun 2021 | Hyundai Rotem KRW 68bn unsecured bonds (2021) | Bond | KRW 68bn |
| 16 Jul 2019 | Hyundai Rotem KRW 200bn unsecured bonds (2019) | Bond | KRW 200bn |
| 8 Jun 2018 | Hyundai Rotem KRW 100bn unsecured bonds (2018) | Bond | KRW 100bn |
Sources
- Hyundai Rotem DART filing: securities issuance results report (Korean) dart.fss.or.kr · 12 Jun 2020
- Hyundai Rotem DART filing: major issue report, decision to issue convertible bonds (Korean) dart.fss.or.kr · 5 Jun 2020
About this record
Record DEF-2020-0041, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A convertible pays a low coupon because holders can swap the notes for shares above a premium; capped calls and the conversion price set the dilution.
