People & Telecommunication Inc. (KOSDAQ:A054340) announced a private placement of 5th series unregistered unsecured domestic private convertible bonds for gross proceeds of KRW 6,500,000,000 on April 18, 2018. The transaction will involve participation from SHINSERO TECH CO.,LTD. The bonds will carry a coupon of 2% and have a yield to maturity of 4%. The bonds will mature on April 19, 2021. The bonds will be issued at par. The bonds will be fully convertible into 2,024,291 shares of the company at a fixed conversion price of KRW 3,211 shares between a period of April 19, 2019 to March 19, 2021. The bonds are already subscribed. The payment date for the transaction is April 19, 2018. The transaction has been approved by the board of directors of the company.