Pumyang Construction Co., Ltd. (KOSE:A002410) announced a private placement of the fourth unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 18, 2016. The bonds will mature on April 19, 2019. The bonds will carry yield to maturity of 6% and fixed annual coupon of 2%.

The bonds will have lump-sum redemption of principal on maturity date for the bonds. The bonds will have a 100% conversion rate into common shares at KRW 12,009 per share. The conversion period will be from April 19, 2017 to March 19, 2019.

The board of directors of the company approved the transaction.