NK Co., Ltd. (KOSE:A085310) announced a private placement of seventh unregistered/unsecured private convertible bonds for gross proceeds of KRW 23,000,000,000 on September 24, 2015. The bonds will be issued at par. The bonds will carry yield to maturity of 2% and a fixed coupon rate of 1% per annum.

The bonds will mature on September 25, 2019. The bonds will be convertible into common shares at a fixed conversion price of KRW 6,400 per share at 100% conversion rate. The conversion period will start from September 25, 2016 and end on June 25, 2019.

The subscription and payment date is September 25, 2015. The transaction has been approved by the board of directors of the company. The transaction will include participation from Hyundai Season I Mezzanine Private Security Investment Trust, a fund managed by Hyundai Asset Management Co., Ltd. for KRW 10,000,000,000, Pine Asia Asset Management Inc. for KRW 5,000,000,000, and Synergy Partners Co., Ltd. for KRW 8,000,000,000.