Woosung I&C Co. Ltd. (KOSDAQ:A011080) announced a private placement of type 1 unregistered coupon unguaranteed private convertible debentures for gross proceeds of KRW 10,000,000,000 on July 1, 2015. The debentures will be issued at par.

The debenture will mature on July 3, 2019. The debentures will carry zero coupon rate and yield to maturity of 2%. The debentures will be 100% convertible at KRW 1,590 per share.

The conversion period will start on July 3, 2016 and end on June 3, 2019. The subscription date and the payment date for the transaction is July 3, 2015. The transaction will include participation from a new investor, Synergy Partners Co., Ltd. The transaction has been approved by the board of directors of the company.