Asiana Airlines to raise US$93.6 million via convertible bond issuance

Asiana Airlines to raise 100 billion won -- approx. US$94 million -- by issuing convertible bonds with a five-year maturity.

Domestic institutional investors are scheduled to buy the debt on 13 April 2018, wit the maturity on 13 April 2023. The debt can be converted in 20 million shares in the airline, beginning 13 April 2020.

Asiana plans to reduce its debt-to-equity ratio with the capital raised via the issuance.

Expected net profit for 2018 is 254.5 billion won.