DAE-IL Corporation (KOSE:A092200) announced a private placement of fourth unregistered/unsecured unguaranteed private convertible bonds for gross proceeds of KRW 50,000,000,000 on March 14, 2016. The bonds will be issued at par. The bonds will mature on March 18, 2021, with lump-sum redemption of principal on maturity date for the bonds.

The bonds will have a yield to maturity of 2.5%, and an annual coupon rate of 0%. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 8,470 per share from March 18, 2017 to February 18, 2021. The transaction will include participation from Hana Bank, Investment Arm for KRW 17,000,000,000, Synergy Partners Co., Ltd for KRW 5,000,000,000, GB Synergic investment trust for KRW 5,000,000,000, and nine other investors.

The transaction has been approved by the board of directors of the company.