KR Motors Co., Ltd. (KOSE:A000040) announced a private placement of series 51 unguaranteed private convertible bonds for gross proceeds of KRW 35,000,000,000 on December 4, 2020. The bonds bear an interest rate of 3% and yield to maturity of 5%. The bonds will mature on December 23, 2024. The transaction will include participation from Synergy Green New Deal No. 1 New Technology Business Fund. The bonds are convertible into 26,276,276 common shares at a price of KRW 1,332 per share. The conversion period is from December 23, 2021 to November 23, 2024. The transaction has been approved by the board of directors of the company. The subscription date of the transaction is December 4, 2020. The transaction is expected to close on December 23, 2020. The securities issued are subject to hold period of one year.