Doosan Fuel Cell decided to issue convertible bonds with warrants worth KRW 100 billion.

Doosan Fuel Cell decided to issue convertible bonds with warrants worth KRW 100 billion. The offering targets are Korean Investment & Securities, KB Securities, and Daishin Securities, and the proceeds will be used to repay existing borrowings. The bonds carry an initial coupon rate of 0.0% and maturity interest rate of 2.0%, but from 3 years later (November 2029) the rates will be adjusted upward by 1% annually; the maturity is set at 30 years (November 2056). Bondholders may exercise warrants from November 2027 to October 2056, and the exercise price is KRW 43,704 per share.

1. 01

   The proceeds will be used to repay KRW 100 billion in borrowings from Kiwoom Securities.

2. 02

   The bonds are bearer, warrant-bearing, unsecured, non-detachable private placement perpetual convertible bonds; the subscription and payment date is November 12, 2026.

3. 03

   From the initial adjustment date (November 12, 2029), the coupon rate and maturity interest rate will each be adjusted upward by 1% annually.

4. 04

   The issuer may optionally redeem the bonds early on each interest payment date from the initial adjustment date, and may suspend interest payments indefinitely.

An AI model translated the Korean summary of this filing into English; every number is carried over from the Korean original. Reference information, not investment advice.

Key figures

Bond size

KRW 100 billion

Coupon rate

0.0% (initial), 5.0% from the initial adjustment date

Maturity interest rate

2.0% (initial), 7.0% from the initial adjustment date

Maturity date

November 12, 2056

Warrant exercise price

KRW 43,704 per share

Shares to be issued upon warrant exercise

2,288,120 shares (2.72% of total shares outstanding)

Filing facts

Filing type

Bond Issuance

Report name

Decision on Bond with Warrants Issuance

Filed

Oct 13, 2026

Receipt number

20261013000372