Barunson E&A Corporation (KOSDAQ:A035620) announced a private placement of 17th unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on August 17, 2016. The transaction will include participation from KK Holdings Co., Ltd. The zero-coupon bonds will mature on August 19, 2019, with lump-sum redemption of principal on maturity date for the bonds, and yield to maturity of 6%. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 2,805 per share. The transaction has been approved by board of directors of the company. The transaction is expected to be completed by August 19, 2016.