POBIS TNC CO., Ltd (KOSDAQ:A016670) announced that it has completed a private placement of 5th series non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 804,000,000 on December 24, 2020. The transaction included participation from SBW, Inc. (KOSE:A102280). The bonds are redeemable, issued at par, bear fixed interest rate of 2% per annum, yield to maturity rate of 3%, will mature on December 24, 2023, and are fully convertible into 767,908 common shares of the company, representing 0.88% stake, at a fixed conversion price of KRW 1,047 per share, from December 24, 2021 to November 24, 2023.

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