People & Telecommunication Inc. (KOSDAQ:A054340) announced a private placement of 6th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 3,000,000,000 on May 4, 2018. The bonds are issued at 2% interest rate, yield to maturity of 4% and will mature on May 11, 2021. The bonds can be 100% converted into 682,283 common shares at a fixed conversion price of KRW 4,397 per share. The conversion period is from May 11, 2019 to April 11, 2021. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 11, 2018.