| Issuer / Guarantor | HD Korea Shipbuilding & Offshore Engineering Co. Ltd |
|---|---|
| Size | USD 1550mn |
| Type | Exchangeable into HDHHI |
| Leads | HSBC, JP Morgan, UBS |
| Maturity | 04 May 2031 (5 years) |
| Coupon | 0% (0%) |
| Premium | 12.5% (12.5 - 17.5%) |
| Calls | @ 100% from May 2028 (2 yrs); 130% trigger |
| Puts | 2yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | None |
| CoCo | None |
| Announced | 31 Mar 2026 |