KANGLIM Co., Ltd. (KOSDAQ:A014200) announced a private placement of round 7 non-guaranteed private equity convertible bonds with domestic bearer interest for gross proceeds of KRW 8,000,000,000 on December 14, 2020. The transaction will include participation from BFA Co.,Ltd., Hands Partners Co., Ltd., and Eugene Investment & Securities Co.,Ltd. (KOSE:A001200). The bonds carry a surface interest rate of 3% and interest rate to maturity of 3%.

The bonds will mature on December 16, 2023. The bonds are fully convertible at a fixed conversion of KRW 1,890 per share into 4,232,804 common shares from December 16, 2021 and November 16, 2023. The company expects to close the transaction on December 16, 2020.

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