Nexen Tech Corporation (KOSDAQ:A073070) announced a private placement of series 2 unregistered and unsecured private convertible bonds for gross proceeds of KRW 12,800,000,000 on March 12, 2018. The transaction will involve participation from HMC Investment Securities Co., Ltd., Investment Arm. The bonds will carry no coupon and will have a 3.5% yield to maturity rate. The bonds will mature on March 14, 2021. The bonds are 100% convertible into 2,084,351 common shares at a fixed price of KRW 6,141 for 2.38% stake in the company from March 14, 2019 to February, 2021. The subscription date is March 12, 2018 and the transaction is expected to close on March 14, 2018. The transaction was approved by the board of directors.