Cubic Korea Inc. (KOSDAQ:A021650) announced a private placement of third round of unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on May 29, 2017. The zero coupon bonds will mature on May 31, 2021. The bonds will be issued at par.

The bonds have yield to maturity of 2%. The bonds are 100% convertible into common shares at KRW 4,407 per share from May 31, 2018 to April 30, 2021. The transaction has been approved by board of directors of the company.

The transaction will include participation from returning investor Samyung Trading Co., Ltd. (KOSE:A002810) for KRW 5,000,000,000, Hyundai Asset Management Co., Ltd for KRW 4,000,000,000, and Pine Asia Asset Management Inc. for KRW 1,000,000,000. The transaction is expected to be completed by May 31, 2017.