Gentro Co., Ltd. (KOSDAQ:A083660) announced a private placement of first unregistered/unsecured unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on October 19, 2015. The transaction will include participation from Kanohi Co., Ltd., PK Capital Co., Ltd., and Dream Asset Management Co. Ltd. for KRW 5,000,000,000 each.

The bonds will mature on October 21, 2018, with lump-sum redemption of principal on maturity date for the bonds, does not bear coupon, and yield to maturity of 2% per annum. The bonds will be convertible into common shares of the company at a rate of 100% and at a conversion price of KRW 2,765 per share for a conversion period starting from October 21, 2016 to September 21, 2018. The subscription date and the payment date are expected on October 21, 2015.

The transaction was approved by the board of directors of the company.