Dong Yang Steel Pipe Co., Ltd. (KOSE:A008970) announced private placement of 46th unregistered unsecured private convertible bonds for gross proceeds of KRW 10,000 million on July 20, 2015. The bonds will be issued at par. The convertible bonds carries fixed interest of 0.5% per annum, lump-sum redemption of principal on maturity date for the bonds, and 2% per annum yield to maturity.

The bonds will mature on July 22, 2018. The bonds will be convertible into common share of the company at a fixed conversion price of KRW 1,210 per share from July 22, 2016 to June 22, 2018. The subscription date and payment date for the bonds is July 22, 2015.

The transaction has been approved by the board of directors. The transaction will include participation from new investors, Hyundai Season I Mezzanine Private Security Investment Trust, a fund managed by Hyundai Asset Management Co. Ltd. for KRW 5,000 million, Synergy Partners Co., Ltd for KRW 3,000 million, and SBI Savings Bank Inc. for KRW 2,000 million.