CJ Freshway Corporation (KOSDAQ:A051500) announced that it has raised KRW 26,000,000,000 in a private placement of 2nd series unregistered coupon unguaranteed Subordinated convertible bonds on May 9, 2018. The transaction included participation from PINE Solution 10th Limited Company. The bonds carry a fixed coupon of 3.3% per annum and yield to maturity of 3.3%. The bond would mature on May 9, 2048. The bonds are convertible into common shares of the company at a conversion price of KRW 43,660 per share. The conversion will start on May 9, 2019 and end on April 9, 2048. The transaction has been approved by the board of directors of the company.