Hanil Iron & Steel Co., Ltd. (KOSE:A002220) announced a private placement of 1st unregistered coupon unguaranteed private convertible bonds for gross proceeds of 5,000,000,000 on April 20, 2017. The transaction included participation from new investor Cape Investment & Securities Co., Ltd. The bonds do not carry any coupon rate and would mature on April 24, 2021. The bonds are convertible into 218,455 common shares of the company at an exercise price of KRW 22,888 per share. The yield to maturity rate of the bonds is 1.5%. The conversion period of bonds is from April 24, 2018 to March 24, 2021. The subscription and payment date is April 24, 2017. The transaction has been approved by the board of directors of the company.