NVH Korea Inc. (KOSDAQ:A067570) announced a private placement of Series three unregistered coupon unguaranteed convertible bonds for gross proceeds of KRW 30,000,000,000 on May 19, 2017. The transaction will include participation from Mirae Asset Daewoo Co., Ltd for KRW 5,000,000,000, Polaris No.4 Private Equity Fund for KRW 18,000,000,000, Fund 1 for KRW 5,500,000,000 and Fund 2 for KRW 1,500,000,000. The bonds do not have an interest rate.

The bonds have a yield to maturity of 1% per annum. The bonds are issued at par and have a maturity date on May 22, 2020. The bonds are 100% convertible into 8,303,349 common shares at a price of KRW 3,613 per share.

The conversion period is from May 22, 2018 to April 22, 2020. The subscription and payment date is May 22, 2017. The bonds issued cannot be converted till one year from the date of issuance.

The transaction has been approved by the board of directors of the company.