Syswork Co., Ltd (KOSDAQ:A269620) announced that it will issue series 5 bearer-type interest-bearing private equity convertible bonds for gross proceeds of KRW 20,000,000,000 on April 14, 2021. The bonds will be issued at par. The transaction will include participation from Sangsangin Savings Bank, Investment Arm and Sangsangin Plus Savings Bank, Investment Arm for 10,000,000,000 each respectively. The bonds carry 2% coupon rate, 5.5% yield to maturity. The bonds will mature on April 30, 2024. The bonds are convertible into 8,814,455 common shares at a fixed conversion price of KRW 2,269 per share from April 30, 2022 to March 30, 2024. The date of subscription is April 14, 2021 and expected date of payment is April 30, 2021. The transaction is approved by the board of directors of the company.