TCC Steel Decides to Issue Convertible Bonds (CB) (Purpose: Repay 15 Billion Won of Existing Debt)

Decision to issue convertible bonds (CB): Purpose is to repay 15 billion won out of 50 billion won of existing 40th unsecured private CB.
Issue targets: 8 funds (institutional investors) including AndaH, NH, Orion, Shinhan, etc. (private placement).
Put Option: Bondholders can demand early redemption at 100% of principal from Nov 20, 2028 (2.5 years after issuance) and every 3 months thereafter.
Call Option: Issuer can force sale from bondholders at up to 40% of bonds from May 20, 2027 to Oct 20, 2028, at principal plus 0.1% annual compound interest.
Mandatory holding: Bondholders must hold 40% of total issuance unconverted until the end of the call option exercise period.
Major shareholder call option limit: Largest shareholder and related parties can only exercise call option up to their ownership percentage at issuance.

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