JW Shinyak Corporation (KOSDAQ:A067290) announced a private placement of first and second unregistered/unsecured coupon unguaranteed private convertible bonds for proceeds of KRW 19,000,000,000 and KRW 6,000,000,000 respectively for aggregate gross proceeds of KRW 25,000,000,000 on March 28, 2016. The bonds will mature on March 30, 2021. The bonds have yield to maturity of 3% and a fixed coupon rate of 2% per annum.

The bonds are redeemable in lump sum on its maturity. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 7,799 per share from March 30, 2017 to February 28, 2021. The transaction will include participation from new investors Nau Growth Capital PEF for KRW 6,000,000,000, JT Chinae Savings Bank Co., Ltd. for KRW 1,500,000,000, Korea Securities Finance Corporation, Investment Arm for KRW 500,000,000, Dongbu Securities Co., Ltd., Investment Arm for KRW 10,500,000,000, IBK Capital Corporation for KRW 3,500,000,000, Myung-Sook Kim for KRW 1,000,000,000, Yong-Hoon Moon for KRW 500,000,000, Dong-Geon Shin for KRW 500,000,000, Jin-Sul Joo for KRW 500,000,000, and Cheon-Oh Park for KRW 500,000,000.

The payment and subscription date for the bonds is March 30, 2016. The transaction was approved by the board of directors.