People & Telecommunication Inc. (KOSDAQ:A054340) announced a private placement of 7th series unregistered collateralized private convertible bond for gross proceeds of KRW 1,000,000,000 with returning investor, Rov Co., Ltd. on June 3, 2019. The bonds carry yield to maturity of 2% and will mature on June 3, 2022. The bonds can be 100% converted into 952,380 common shares at a fixed conversion price of KRW 1,050 per share for 23.63% stake in the company. The conversion period will start on June 3, 2020 and ends on May 3, 2022. The transaction has been approved by the board of directors of the company.