Woory Industrial Co., Ltd. (KOSDAQ:A215360) announced a private placement of series 1 unregistered unsecured private convertible bonds for gross proceeds of KRW 3,000,000,000 on June 29, 2016. The bonds will be issued at its par value. The transaction will include participation from new investor, KB Kookmin Bank. The bonds do not carry any interest coupon and have a yield to maturity of 2.5%. The bonds will mature on June 30, 2019. The bonds are fully convertible into registered common stock of the company at a conversion price of KRW 32,963 per share. The conversion period will commence on July 10, 2017 and end on May 30, 2019. The bonds have lump-sum redemption of principal on maturity. The payment date for the bonds is expected on June 30, 2016. The transaction was approved by the board of directors of the company.