Phoenix Materials Co., Ltd. (KOSDAQ:A050090) announced a private placement of fifth unregistered unsecured unguaranteed coupon private convertible bonds for gross proceeds of KRW 3,500,000,000 on August 28, 2015. New investors Susung Asset Management Co., Ltd. and Seasons Investment will subscribe bonds for KRW 2,500,000,000 and KRW 1,000,000,000 respectively. The bonds will mature on September 1, 2018.

The bonds carry a yield to maturity of 5% and a fixed annual coupon of 2%, with lump-sum redemption of principal on maturity date. The bonds will be convertible into common shares of the company at a fixed conversion price of KRW 808 per share at 100% conversion rate from September 1, 2016 to August 1, 2018. The bonds will be issued at par.

The board of directors of the company approved the transaction. The payment date is September 1, 2015.