Essen Tech Co. Ltd. (KOSE:A043340) announced a private placement of fifth unregistered/unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on June 27, 2012. The bonds will carry a coupon rate of 15% and are convertible into common shares of the company at a conversion price of KRW 1,100 per share till June 29, 2016. The transaction is expected to close on June 29, 2012. The request for the conversion can be made in between June 29, 2013 to June 28, 2016. On June 29, 2012, Essen Tech Co. Ltd. closed the transaction.