Finetek Co., Ltd. (KOSDAQ:A131760) announced a private placement of series 8 domestic unregistered and unsecured private convertible bonds for gross proceeds of KRW 15,000,000,000 on May 10, 2017. The transaction involves participation from 12 investors including Shinhan Investment Corp for KRW 4,000,000,000, Truston Multi Intelligence Hedge Fund for KRW 300,000,000 and Ryukyungpsg Heritage Value Specialty Investment Private Multi-asset Fund 1 managed by Dream Asset Management Co. Ltd. for KRW 2,000,000,000.

The company will issue bonds at par. The bonds do not carry any annual coupon rate and a fixed yield to maturity rate of 4% per annum. The bonds will mature on May 12, 2020.The bonds are convertible into 1,626,192 common shares at 100% conversion rate at a fixed conversion price of KRW 9,224 per share from May 12, 2018 to April 12, 2020.

The payment date and subscription date is May 12, 2017. The transaction has been approved by the board of directors of the company.