Panstar Enterprise Co., Ltd. (KOSDAQ:A054300) announced a private placement of 15th domestic unregistered coupon unsecured private convertible bonds with Dongbu Securities Co., Ltd., Investment Arm for gross proceeds of KRW 4,500,000,000 on March 2, 2016. The securities will be issued at par. The bonds will mature on March 3, 2019.

The convertible bonds carry fixed 4% yield to maturity and fixed 1% coupon rate with lump-sum redemption of principal on maturity date for the bonds. The convertible bonds will be converted at fixed conversion price of KRW 2,420 per share and the conversion period is from March 3, 2017 to February 3, 2019. The subscription and payment date is March 3, 2016.

The board of directors of the company approved the transaction.