HLB Power Co., Ltd. (KOSDAQ:A043220) announced a private placement of series 8 unregistered coupon unsecured convertible bonds for gross proceeds of KRW 6,000,000,000 on December 21, 2018. The bonds will be issued at its par value. The transaction will include participation from Soojin Kim for KRW 1,000,000,000, Taegon Kim for KRW 600,000,000, Hweseon Lee for KRW 600,000,000, and other investors. The bonds will not carry any interest coupon and carry a yield to maturity of 1%. The bonds will mature on January 18, 2022. The bonds are fully convertible into common shares of the company at a conversion price of KRW 686 per share. The conversion period of the bonds will be from January 18, 2020 to December 18, 2021. The payment date for the bonds is expected on January 18, 2019. The transaction was approved by the board of directors of the company.