Jeil Steel Mfg. Co., Ltd. (KOSDAQ:A023440) announced private placement of series 1 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 38,000,000,000 with new investor Decaconix Co., Ltd. on May 26, 2021. The bonds bear interest of 4.5% per annum and matures on May 31, 2023. The bonds are convertible into 10,863,350 shares representing 31.47% stake at a fixed conversion price of KRW 3,498 per share from May 31, 2022 to April 30, 2023. The expected payment date is May 31, 2021. The transaction has been approved by the board of directors of the company.