Panstar Enterprise Co.,Ltd. (KOSDAQ:A054300) announced a private placement of 18th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on October 30, 2017. The transaction included participation from BNK Securities Co., Ltd. for KRW 4,000,000,000 and IBK Capital Corporation for KRW 1,000,000,000. The bonds carry coupon rate of 2% and yield to maturity of 6%. The bonds have maturity date of October 30, 2020. The bonds are convertible into 7,072,135 common shares of the company at a conversion price of KRW 707. The conversion period is from October 30, 2018 to September 30, 2020. The subscription and payment date is October 30, 2017. The transaction was approved by board of directors of the company.