YooSung TNS Co., Ltd. (KOSDAQ:A024800) announced a private placement of 28th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on May 22, 2017. The transaction will include participation from existing investors Hanil Asset Management & Investments Limited for KRW 10,000,000,000, Seohee Construction Co., Ltd. (KOSDAQ:A035890) for KRW 3,000,000,000, Apple Tree D&I Co., Ltd. for KRW 1,500,000,000, Bong-Kwan Lee for KRW 2,000,000,000, and other investors. The bonds will be issued at par.

The bonds will bear a fixed coupon rate of 5% per annum and yield to maturity of 5% per annum. The bonds are 100% convertible into shares of the company at a fixed conversion price of KRW 4,205 per share from May 26, 2018 to April 26, 2020. The bonds will mature on May 26, 2020.