Chobi Co. Ltd. (KOSE:A001550) announced a private placement of 26th unregistered/unsecured private convertible bonds for gross proceeds of KRW 15,000,000,000 on April 27, 2015. The bonds can be redeemed on its maturity date, April 29, 2018.

The zero coupon bonds bears yield to maturity of 1.5% per annum. The bonds are 100% convertible at KRW 12,852 per share from April 29, 2016 to March 29, 2018. The transaction will include participation from a new investor, Hanyang Securities Co.

Ltd., Investment Arm and an existing investor, Kyung Nong Corp. for KRW 10,000,000,000 and KRW 5,000,000,000 respectively. The subscription date and the payment date for the transaction is April 29, 2015.

The transaction has been approved by the board of directors of the company.