ORIENT BIO Inc. (KOSE:A002630) announced a private placement of eighth unregistered/unsecured unguaranteed private convertible bonds for gross proceeds of KRW 7,000,000,000 on October 14, 2015. The transaction will include participation from Eugene Investment & Securities Co., Ltd. The bonds will mature on October 16, 2018. The bonds will be issued at par.

The bonds do not bear interest and carry yield to maturity of 3% per annum. The bonds are 100% convertible into common shares of the company at a fixed conversion price of KRW 1,215 per share. The conversion period is from October 16, 2016 to September 16, 2018.

The subscription and payment date for the bonds is October 16, 2015.