Saehwa IMC Co., Ltd. (KOSE:A145210) announced a private placement of series 3 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on November 28, 2017. The transaction will involve participation from new investors Wiz GLS CO.,LTD for KRW 3,000,000,000, E Investment&Development Co., Ltd. (KOSE:A093230) for KRW 5,000,000,000, and Han Kook Capital Co., Ltd. (KOSDAQ:A023760) for KRW 3,000,000,000. The expected closing date and subscription date of the transaction is on November 29, 2017.

The bonds will carry no coupon rate and will have a yield to maturity of 3%. The bonds will mature on November 29, 2021. The bonds will be convertible into 2,873,563 shares of the company at a fixed conversion price of KRW 5,220 from November 29, 2018 to October 29, 2021.

The transaction was approved by the board of directors of the company.