HANKOOK Corporation Inc. (KOSDAQ:A050540) announced a private placement of 10th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 24, 2019. The transaction will include participation from Korea Engineering Plastics Co., Ltd. The bonds carry a fixed coupon rate of 9% and yield to maturity at 10%. The bonds will mature on May 9, 2022.

The bonds are fully convertible into 4,863,813 shares for 12.54% stake in the company at a fixed conversion price of KRW 2,056 per share. The conversion period starts from May 9, 2020 and ends on April 9, 2022. The bonds have a subscription date of April 24, 2019.

The transaction is expected to close on May 9, 2019. The transaction has been approved by the board of directors of the company.