Phoenix Materials Co., Ltd. (KOSDAQ:A050090) announced a private placement of sixth unregistered unguaranteed unsecured coupon private convertible bonds for gross proceeds of KRW 3,000,000,000 on November 9, 2015. The bonds will be issued at its par value. The transaction will include participation from Sejong Mutual Savings Bank Co.,Ltd., Investment Arm.

The bonds will mature on November 12, 2018. The bonds carry a yield to maturity of 5% and a fixed annual coupon of 5%, with lump-sum redemption of principal on maturity date. The bonds will be convertible into common shares of the company at a fixed conversion price of KRW 1,332 per share at 100% conversion rate from November 12, 2016 to October 12, 2018.

The payment date for the bonds is expected on November 12, 2015. The transaction was approved by the board of directors of the company.