MoonBae Steel Co., Ltd. (KOSE:A008420) announced a private placement of 2nd series unregistered coupon unguaranteed Private placement Exchangeable bonds for gross proceeds of KRW 5,000,000,000 on July 26, 2017. The transaction will include participation from new investors, Susung Asset Management Co., Ltd for KRW 1,500,000,000, Susung High Yield Public Stock N Multi Asset Fund for KRW 500,000,000, Susung Multi-Asset Private Investment Trust 4 for KRW 1,000,000,000, Value System Baekrokdam Private Investment Hedge Fund for KRW 800,000,000, Value System Cedar Tree Private Investment Hedge Fund for KRW 200,000,000 and Kiwoom Securities Co., Ltd. for KRW 1,000,000,000. The bonds will be 100% convertible into common shares at a conversion price of KRW 3,905 per share from August 28, 2017 to June 28, 2020.

The bonds will have zero coupon rate and yield to maturity of zero percent. The bonds will mature on July 28, 2020. The subscription date and payment date is July 28, 2017.

The transaction has been approved by the board of directors of the company.