Lotte Tour Development Co., Ltd. (KOSE:A032350) announced a private placement of round 7 non-guaranteed, unsecured, privately held convertible bonds for gross proceeds of KRW 63,000,000,000 on January 15, 2021. The transaction will involve participation from new investor CCG Investment Asia Limited. The bonds bear fixed coupon rate of 2.5% per annum, yield to maturity rate of 4.5% per annum, and will mature on January 14, 2025. The bonds are fully convertible at a conversion price of KRW 15,550 per share into 4,051,446 shares for 5.5% of total shares. The conversion period starts from March 11, 2022 and ends on January 07, 2025. The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 11, 2021.