JNK Heaters Co., Ltd. (KOSDAQ:A126880) announced a private placement of 1st series unregistered coupon unguaranteed and unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on November 17, 2016. The transaction will include participation from new investors, Anda Mezzanine Hedge Fund 2 for KRW 3,000,000,000, Susung Asset Management Co., Ltd. for KRW 3,000,000,000, NH Investment & Securities Co., Ltd., Asset Management Arm for KRW 1,000,000,000, NH Absolute Return Hedge Fund 1 for KRW 1,000,000,000, HisStory Investment Management for KRW 1,000,000,000, Anda Cruise Hedge Fund 1 for KRW 500,000,000, and Anda Voyager Hedge Fund 1 for KRW 500,000,000. The bonds will mature on November 17, 2021. The zero coupon bonds carry yield to maturity of 0%. The bonds are 100% convertible into common shares of the company at KRW 3,835 per share between the period of November 21, 2017 to October 21, 2021. The subscription date is November 21, 2016. The board of directors have approved the transaction. On the same day, the company amended the terms of the transaction. The company announced that offering period has been extended to November 21, 2016.