ConvertibleExpiredBTC
0% Convertible Notes due 2028
BMAX-Mar28
2450.00 KRWโฒ 4.03%
BTC Holdings
551.238 BTC
Total Debt
102.61B KRW
Leverage
155.9%
mNAV
0.43x
Outstanding
0.00 KRW
Issue date
2025-03-13
Principal
15.00B KRW
Coupon
0.00%
Maturity
2028-03-13
Conversion price
5,768 KRW
ITM Status
OTM (-57.5%)
- Coupon renegotiated from 4.9% to 0% in Mar 2026
- Exact issue/maturity dates estimated
- Conversion price adjusted for 4:1 reverse split Mar 2026 (pre-split: 1442)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Unsecured
- Settlement
- Shares
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Put provision
- Holders may request early redemption at 100% of face value from 1 year after issuance (Mar 13, 2026), monthly thereafter. Early redemption yield: 0%.
- Use of proceeds
- BTC acquisition
Outstanding History
Outstanding history(4)
| As of | Event | Outstanding |
|---|---|---|
| 2026-05-08 | Repurchase | 0.00 KRW Cash repurchase clearing residual CB3 balance (โฉ700M); fully retired. Sellers: ๋ผ๋ฅด๊ณ ์ค๋ธ๋ฆญ3ํธ ํฌ์์กฐํฉ (โฉ500M), ์ด์ฃผํ (โฉ200M). |
| 2026-05-07 | Repurchase | 700.00M KRW CB6 in-kind substitute payment (๋์ฉ๋ฉ์
): โฉ14.3B CB3 face acquired and offset against CB6 subscription on 2026-05-07. Sole seller: ๋ฒ๋ดํธ์์ฐ๋ฃธ2ํธ ํฌ์์กฐํฉ. Residual โฉ0.7B retired the next day. |
| 2025-03-15 | Issuance | 15.00B KRW |
| 2025-03-13 | Issuance | 15.00B KRW |
- 2026-05-08 โ 0 KRW5./6./13. ์ฌ์ฑ ๊ถ๋ฉด ์ด์กยท์ทจ๋ ๋์ ๊ธ์กยท์ทจ๋ํ ์์ก
- 2026-05-07 โ 700,000,000 KRW5./6./13. ์ฌ์ฑ ๊ถ๋ฉด ์ด์กยท์ทจ๋ ๋์ ๊ธ์กยท์ทจ๋ํ ์์ก
- 2025-03-15 โ 15,000,000,000 KRW
- 2025-03-13 โ 15,000,000,000 KRW