Seoul Electronics & Telecom Co., Ltd. (KOSDAQ:A027040) announced a private placement of 8th registered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,500,000,000 on December 8, 2016. The bonds carry zero coupon rate and fixed yield to maturity of 2% per annum. The bonds will be 100% convertible into common shares of the company at fixed conversion price of KRW 1,218 per share from December 9, 2017 to December 8, 2019. The maturity date of the bonds is December 9, 2019. The subscription and payment date is December 9, 2016. The round will include participation from new investor Medici 2016-2 Private Investment Firm. The transaction was approved by the board of directors of the company