3S Korea Co. Ltd. (KOSE:A060310) announced a private placement of ninth unregistered unsecured private convertible bonds for gross proceeds of KRW 3,940,000,000 on March 30, 2015. The bonds will mature on March 31, 2020.

The bonds bear an interest at a fixed rate of 3% per annum and yield to maturity of 5%. The bonds are 100% convertible into common shares of the company at a fixed conversion price of KRW 3,367 per share. The conversion period is from March 31, 2016 to February 29, 2020.

The payment date for the shares is expected on March 31, 2015. The bonds have lump-sum redemption of principal on maturity date. The transaction was approved by the board of directors of the company.

The transaction will include participation from existing investors Jong-Ik Park, Chief Executive Officer of the company, who will invest KRW 150,000,000; Kyoung-Hee Roh who will invest KRW 150,000,000; Hyun-sung Park who will invest KRW 100,000,000 and other investors.