NIBEC Co. Ltd. (KOSDAQ:A138610) announced a private placement of third unregistered unsecured private convertible bonds for gross proceeds of KRW 2,000,000,000 on February 26, 2015. The bonds will mature on March 2, 2020, with yield to maturity of 5% and carry a fixed annual coupon of 1%.

The bonds are convertible into common shares at a fixed conversion price of KRW 7,121 per share and a conversion period from March 2, 2016 to February 2, 2020. The transaction will include participation from a new investor, Hyundai Agro-Bio Fund Unit 1. The payment for the transaction is March 2, 2015. The transaction has been approved by the board of directors of the company.