Daeho Al Co., Ltd. (KOSE:A069460) announced private placement of series 14 non-guaranteed private equity convertible bonds for gross proceeds of KRW 5,000,000,000 with Sangsangin Plus Savings Bank, Investment Arm on March 24, 2020. The company will issue bonds at par. The bonds carry coupon of 2% per annum, payable quarterly and yield to maturity of 5% per annum. The bonds will mature on March 30, 2023. The company will redeem bonds at 109.6452% of principal amount on maturity, however the company may make early redemption on September 30, 2021, and every month thereafter. The bonds are convertible into 2,893,518 common shares representing 9.64% stake at a fixed conversion price of KRW 1,728 per share, starting from March 30, 2021 and ending on February 28, 2023. The expected payment date is March 30, 2020. The transaction has been approved by the board of directors of the company.