Heshbon Co., Ltd. (KOSE:A054300) announced a private placement of 14th unregistered unsecured private convertible bonds for gross proceeds of KRW 2,400,000,000 on June 17, 2015. The bonds will mature on June 17, 2018, carry a fixed annual coupon of 0%, with lump-sum redemption of principal on maturity date for the bonds, and yield to maturity of 0%. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 1,645 per share for a conversion period starting from June 17, 2016 to June 17, 2018.

The transaction included participation from existing shareholders, Jae-Hoon Kim and Kyung-Sook Kim for KRW 500,000,000 and KRW 450,000,000 respectively, new shareholder, Mi-Kyung Park for KRW 450,000,000, and other investors. The transaction was approved by the board of directors of the company.