SillaJen, Inc. (KOSDAQ:A215600) announced a private placement of series 31 unguaranteed private equity convertible bonds for gross proceeds of KRW 5,000,000,000, series 32 unguaranteed private equity convertible bonds for gross proceeds of KRW 5,000,000,000, series 33 non-guaranteed private equity convertible bonds for gross proceeds of KRW 10,000,000,000; for an aggregate gross proceeds of KRW 20,000,000,000 on April 23, 2020. The transaction will include participation from individual investor Park OO for KRW 10,000,000,000 for series 33 bonds, individual investor Kwak Byeonghak for 32nd round bonds for KRW 5,000,000,000 and existing individual investor Moon Eun Sang for 31st round bonds for KRW 5,000,000,000. The series 31 bonds and series 33 bonds are zero coupon bonds and the 32nd round bonds have an interest rate of 1%. The bonds have maturity date of April 24, 2025. The bonds are 100% convertible into 768,285 common shares of the company at a conversion price of KRW 13,016 per share for a period from April 24, 2021 to March 24, 2025. The subscription and payment date is April 24, 2020. The bonds issued has a hold period of one year. The transaction was approved by the board of directors.