Seoul Electronics & Telecom Co. Ltd. (KOSDAQ:A027040) announced a private placement of seventh unregistered unsecured private convertible bonds for gross proceeds of KRW 4,400,000,000 on March 28, 2016. The transaction will include participation from NICE F&I Co., Ltd. The convertible bonds carry fixed 2% yield to maturity and zero coupon rate, lump-sum redemption of principal on maturity date for the bonds.

The bonds will be issued at par. The convertible bonds will be converted at fixed conversion price of KRW 1,042 per share and the conversion period is from March 29, 2017 to March 28, 2019. The convertible bonds will mature on March 29, 2019.