Dongbang Transport Logistics Co., Ltd. (KOSE:A004140) announced a private placement of series 90 unsecured private convertible debentures of KRW 10,000,000,000 on July 11, 2019. The transaction will involve participation from new investors, NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 7,000,000,000 and Shinhan Eng & Const. Co.,Ltd (KOSE:A005450) for KRW 3,000,000,000.

The debentures date of maturity is July 15, 2022. The debentures are fully convertible into 5,037,783 common shares for 13.08% stake at a conversion price of KRW 1,985. The conversion period starts on July 15, 2020 and ends on June 15, 2022.

The transaction has been approved by the board of directors of the company. The debentures will have a hold period of one year, post the closing of the transaction. The payment date is July 15, 2019.