WINPAC Inc. (KOSDAQ:A097800) announced a private placement of fourth unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on February 4, 2016. The bonds will be issued at par. The maturity date for the bonds is August 18, 2020.

The yield to maturity is of 4% and fixed annual coupon of 1%. The bonds have a 100% conversion rate of bonds to common shares at a fixed conversion price of KRW 6,570 per share, and a conversion period from February 18, 2017 to July 18, 2020. The transaction will include participation from new investors, Kell Cosmetics Co., Ltd. for KRW 10,000,000,000, KTB Network Co., Ltd. for KRW 3,000,000,000, Heartnex Co., Ltd. for KRW 3,000,000,000, Incheon City Gas Co., Ltd. for KRW 2,000,000,000, Mi-Kyung So for KRW 1,000,000,000, In-Soo Yoon for KRW 500,000,000, and Kwan-Yeol Yoo for KRW 500,000,000.

The transaction was approved by the board of directors of the company. The subscription date for the transaction is February 11, 2016 and the payment date is February 18, 2016.