NIBEC Co., Ltd. (KOSDAQ:A138610) announced a private placement of fifth series unregistered unsecured private convertible bonds for gross proceeds of KRW 5000,000,000 on December 26, 2017. The bonds do not carry any coupon and have a yield to maturity of 4%. The bonds have maturity date of December 26, 2020.

The bonds are convertible into common shares of the company at a conversion price of KRW 10,566 for a period from December 26, 2018 to November 26, 2020. The transaction was approved by the board of directors.