TPC Mechatronics Corporation (KOSDAQ:A048770) announced a private placement of seventh unguaranteed private convertible bonds for gross proceeds of KRW 1,200,000,000 on June 2, 2015. The transaction will involve sole participation from SHINHAN BANK. The bonds have an annual fixed coupon rate of 1% and carry yield to maturity of 4.5% per annum.

The bonds are redeemable on its maturity, December 8, 2018. The bonds are 100% convertible in to common shares at fixed conversion price of KRW 20,000 per share from June 8, 2016 to December 7, 2018. The subscription date and payment date for the transaction is June 8, 2015.

The transaction has been approved by the board of directors of the company.