Incar Financial Service Co., Ltd. (XKON:A211050) announced a private placement of 2nd unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 with new investor Dongbu Life Insurance Co., Ltd. on August 11, 2017. The bonds will be issued at par. The bonds will bear coupon rate of 3%, yield to maturity of 4.5%, and mature on August 14, 2022. The bonds will be 100% convertible into 259,897 shares at KRW 11,543 per share from August 14, 2020 to July 14, 2022. The securities will be issued to domestic private investors. The transaction is expected to close on August 14, 2017. The transaction has been approved by the board of directors.