HanbitSoft, Inc. (KOSE:A047080) announced a private placement of second unregistered unsecured private convertible bonds for gross proceeds of KRW 15,000,000,000 on June 1, 2015. The bonds will be issued at its par value. The transaction will include participation from Synergy Partners Co., Ltd., Hyundai Asset Management Co., Ltd., and Susung Asset Management Co., Ltd. for KRW 6,000,000,000, KRW 6,000,000,000, and KRW 3,000,000,000 respectively.

The bonds will mature on June 2, 2020. The bonds will not carry any interest coupon or yield to maturity. The bonds will be fully convertible into common shares at a fixed conversion price of KRW 9,566 per share for a conversion period starting from June 2, 2016 to May 22, 2020.

The subscription and the payment date for the bonds are expected on June 2, 2015. The transaction was approved by the board of directors of the company.