GOC Co., Ltd. (XKON:A135160) announced a private placement of series 6 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on March 23, 2018. The transaction will include participation from Susung Asset Management Co., Ltd. for KRW 1,500,000,000, and Ace Susung New Technology Fund 3 for KRW 5,000,000,000. The bonds issued have a fixed coupon rate of 1% yield to maturity. The bonds will mature on March 26, 2023. The bonds are 100% convertible into shares at a fixed price of KRW 4,000 per share into 500,000 common shares at a conversion ratio of 7.14%, between March 26, 2019 and February 26, 2023. The subscription of shares starts from March 26, 2018. The transaction is expected to close on March 26, 2018. The transaction has been approved by the board of directors of the company. The bonds are issued at par.