Phoenix Materials Co., Ltd. (KOSDAQ:A050090) announced a private placement of seventh unregistered/unsecured private convertible bonds with SBI Savings Bank Inc., Investment Arm for gross proceeds of KRW 2,000,000,000 on December 28, 2015. The bonds will be issued at par. The convertible bonds carry fixed 5% yield to maturity and fixed 5% coupon rate, lump-sum redemption of principal on maturity date for the bonds.

The convertible bonds will be converted at fixed conversion price of KRW 1,498 per share and the conversion period is from December 30, 2016 to November 30, 2016. The convertible bonds will mature on December 30, 2018. The transaction was approved by the company's board of directors.

The payment date for the transaction is December 30, 2015.