Insung Information Co., Ltd (KOSDAQ:A033230) announced a private placement of third unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on November 25, 2015. The bonds will be issued at par. The bonds will mature on November 26, 2020; with yield to maturity of 2%.

The bonds do not carry any coupon and have lump-sum redemption of principal on maturity date. The bonds can be 100% converted into common shares of the company at a fixed conversion price of KRW 4,595 per share and a conversion period from November 26, 2016 to October 26, 2020. The transaction will include participation from a returning investor, DNCompany Co., Ltd. The transaction has been approved by the board of directors of the company.

The subscription date and the payment date for the transaction is November 26, 2015.