PC Direct, Inc. (KOSDAQ:A051380) announced a private placement of first unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,200,000,000 on December 23, 2015. The bonds will be issued at par. The bonds will mature on December 24, 2018, with lump-sum redemption of principal on maturity date for the bonds.

The bonds will have a yield to maturity of 4% and a fixed coupon rate of 4% per annum. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 4,375 per share from December 25, 2016 to December 23, 2018. The transaction will include participation from eight investors including, Click Nara Co., Ltd. for KRW 1,000,000,000, MOST IT CO.,LTD. for KRW 800,000,000, IG International for KRW 350,000,000.

The subscription date and the payment date for the transaction is December 24, 2015. The transaction was approved by the board of directors of the company.