[Korea goyounghun financial newspaper News] Daewoo Mirae 245 billion won will be invested in redeemable convertible preference shares (RCPS) in the form of POSCO Energy.
According to the financial investment industry, 20 days is expected to issue about 2400 billion of RCPS for POSCO Energy to repay 280 billion won in March the size of redeemable convertible preferred debt maturities coming back.
POSCO Energy is planning to publish this resolution on the agenda for this coming 22 days the Board shall treat MAS organized the deal. The acquirer will repay the existing main private equity fund (PEF) managers Sky Lake.
RCPS can be recovered as a debt attached to a fixed rate of interest on investments it has been granted investment payments and common stock preferred stock conversion feature.
Sky Lake is credited back to the March 2010 minutes and 800 billion won and 200 billion won of principal invested in POSCO Energy this March. He has said he would be late because there is no repayment obligation before even come up with the principal POSCO Group.
Cash and cash equivalents, POSCO was the situation with the energy necessary measures such as loans to the investment returns this year to the end of the third quarter of 2030 billion won. In POSCO's investment in terms of energy is invested in Sky Lake, only to be caught Daewoo Mirae this debt was so recognized in equity can also enjoy the financial structure improvement. I tried to repay the investment through initial public offering (IPO) scheduled slowed slip was put in front of the due date.
POSCO Energy to raise this capital repayment has been looking for a new investor. Daewoo Mirae back RCPS scale of 140 billion won to 245 billion won invested by POSCO total energy acquisition methods are plans to re-sell to institutional investors. And through them spread the investment risk is also possible additional fee income.
Daewoo Mirae Asset is expecting a 3% annual interest about the rest of the investments of 1050 billion, it is also available common transition from a long-term strategy in case the IPO level (IPO) sacraments.
Daewoo Mirae senior official explained, "but not haeoh are a lot of investment securities of small-scale investment Dun way."
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