MFM Korea,Co.,Ltd. (XKON:A251960) announced a private placement of 1st unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,500,000,000 on August 29, 2017. The transaction will involve participation from new investors Hanwha Investment & Securities Co., Ltd. (KOSE:A003530) for KRW 1,400,000,000, Kyobo Securities Co ., Ltd (KOSE:A030610) for KRW 1,100,000,000, and Shinhan Capital Co., Ltd. for KRW 1,000,000,000. The bonds will be fully convertible into 159,766 shares of the company at a fixed conversion price of KRW 21,907 per share from August 31, 2018 to July 31, 2020.

The bonds will mature on August 31, 2020. The bonds will carry a coupon rate of 3% and will have a yield to maturity rate of 5%. The subscription and expected payment date of the transaction is August 31, 2017.

The transaction was approved by the board of directors of the company.