KR Motors Co., Ltd. (KOSE:A000040) announced a private placement of unguaranteed private convertible bonds for gross proceeds of KRW 5,300,000,000 on March 27, 2019. The transaction included participation from individual investor Seyoung Oh for KRW 2,800,000,000 and returning investor LVMC Holdings (KOSE:A900140) for KRW 2,500,000,000. The zero coupon bond has a yield to maturity of 4%.

The bonds will mature on March 27, 2013 and will be fully convertible into 10,600,000 common shares at a conversion price of KRW 500 per share. The conversion period starts from March 27, 2012 and ends on March 20, 2023. The transaction has been approved by the board of directors.