CAS Corporation (KOSDAQ:A016920) announced a private placement of 11th series unsecured convertible debentures for gross proceeds of KRW 4,000,000,000 on October 19, 2018. The transaction will include participation from Mirae Asset treatment corporation for KRW 3,600,000,000 and Samsung Securities Co.,Ltd. (KOSE:A016360) for KRW 400,000,000. The bond carry zero coupon nominal rate, 2% maturity rate and will mature on October 26, 2023.

The bonds can be 100% converted into 2,941,176 common shares for 13.7% stake of the company at a fixed conversion price of KRW 1,360 per share. The conversion period is from October 26, 2019 to September 26, 2023. The transaction has been approved by the board of directors of the company.

The subscription date is October 23, 2018 and the payment date is October 26, 2018.