People & Telecommunication Inc. (KOSDAQ:A054340) announced a private placement of 6th series unregistered collateralized private convertible bonds for gross proceeds of KRW 6,000,000,000 on May 30, 2019. The transaction will include participation from KDA Holdings Co., Ltd. The bonds are issued at 6% coupon rate, yield to maturity of 10% and will mature on May 31, 2024. The bonds are 100% convertible into 5,714,285 common shares at a fixed conversion price of KRW 1,050 per share. The conversion period is from May 31, 2020 to April 30, 2024. The transaction is approved by the board of directors of the company. The transaction is expected to close on May 31, 2019.