Insung Information Co., Ltd (KOSDAQ:A033230) announced a private placement of second unregistered/unsecured private convertible bonds for gross proceeds of KRW 12,000,000,000 on November 18, 2015. The bonds will be issued at its par value. The transaction will include participation from new investors, Hyundai Asset Management Co., Ltd., Pheonix Asset Management, and ANDA Asset Management Co., Ltd. for KRW 5,400,000,000, KRW 2,600,000,000, and KRW 4,000,000,000 respectively.

Korea Securities Finance Corporation acted as trust agent to Hyundai Asset Management Co., Ltd. and Pheonix Asset Management. NH Investment & Securities Co., Ltd. and Daewoo Securities Co. Ltd. acted as trust agents to ANDA Asset Management Co., Ltd. The bonds will mature on November 19, 2020; with yield to maturity of 2%.

The bonds do not carry any coupon and have lump-sum redemption of principal on maturity date. The bonds are 100% converted into common shares of the company at a fixed conversion price of KRW 4,410 per share and a conversion period from November 19, 2016 to October 19, 2020. The subscription date and the payment date are expected on November 19, 2015.

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