Seohee Construction Co., Ltd. (KOSDAQ:A035890) announced a private placement of unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on February 7, 2018. The transaction will include participation from returning investors YooSung TNS Co., Ltd. (KOSDAQ:A024800) for KRW 13,000,000,000, Apple ENC Co., Ltd. for KRW 3,500,000,000, Apple of the Eye Co., Ltd. for KRW 4,500,000,000, ENB Housing for KRW 1,000,000,000, and individual investors including Lee, Bong-Kwan for KRW 1,500,000,000, Lee, Eun-Hui, Lee, Sung-Hui, and Lee, Dohee for KRW 500,000,000 each respectively. The bonds will be issued at par. The bonds will have a fixed interest rate of 5% per annum and yield to maturity of 5%. The bonds will mature on February 13, 2021, with lump-sum redemption of principal on the maturity date. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 1,242 per share. The transaction is expected to close on February 13, 2018.

On February 13, 2018, the company announced that it has changed the conversion price of the bond from KRW 1,242 to KRW 1,339.