HYUNGJI Innovation and Creative Company Limited (KOSDAQ:A011080) announced a private placement of 2nd unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on March 11, 2016. The securities will be provided to Korea Securities Finance Corporation, which is acting on behalf of GB Synergy Mezzanine PEF. The convertible bonds carry fixed 2% yield to maturity and zero-coupon rate, lump-sum redemption of principal on maturity date for the bonds.

The convertible bonds will be converted at fixed conversion price of KRW 1,705 per share and the conversion period is from March 15, 2017 to February 15, 2020. The company will issue bonds at par. The convertible bonds will mature on March 15, 2020.

The payment date and subscription date is March 15, 2016. The transaction has been approved by the board of directors of the company.