E Investment&Development Co., Ltd. (KOSE:A093230) announced a private placement of 9th series bearer free private bonds for gross proceeds of KRW 20,000,000,000 on November 22, 2019. The transaction involved participation from existing investor EHWA Technologies Information Co. Ltd. (KOSDAQ:A024810).

The bonds will be issued at par value. The bonds carry a coupon of 5% per annum and has yield to maturity of 5%. The bonds issued will mature on November 26, 2022.

The shares are 100% convertible into 82,644,628 common shares of the company at a fixed price of KRW 242 per share between November 26, 2020 to October 26, 2022. The transaction is expected to close on November 26, 2019. The transaction has been approved by the board of directors of the company.