ILYA Co., Ltd announced a private placement of Series 3 registered non-guaranteed privately placed convertible bonds with interest for the gross proceeds of KRW 3,000,000,000 on January 2, 2023. The transaction will include participation from Delia Fund No. 2. The bonds will carry a coupon rate of 4% and yield to maturity rate of 5%.

The bonds are 100% convertible into 1,775,147 common shares at a conversion price of KRW 1,690 per share from February 8, 2024 to January 8, 2026. The bonds are restricted to a hold period of 1 year. The transaction has been approved by shareholders of the company.

The transaction is expected to close on February 8, 2023.