Interbulls Co., Ltd. (KOSDAQ:A158310) announced a private placement of 7th series unsecured unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on January 3, 2018. The transaction includes participation from Smark Co.,Ltd (KOSDAQ:A030270). The bonds are issued at par and does not bean any interest.

The bonds have yield to maturity of 2% and would mature on January 3, 2021. The bonds are fully convertible into 425,894 shares of the company at a fixed conversion price of KRW 7,044 between the period of January 3, 2019 to December 3, 2020. The subscription date is January 3, 2018.

The transaction has been approved by the board of directors of the company.