Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of series 3 registered unguaranteed private convertible bonds for gross proceeds of KRW 1,000,000,000 on September 9, 2019. The transaction will include participation from new investor Samsung Securities Co.,Ltd. (KOSE:A016360) Aion Zeus Private Investment Trust No.

3. The bonds have an interest rate of 7%. The bonds will mature on September 9, 2024. The notes are convertible into 333,333 shares at a conversion price of KRW 3,000 from September 10, 2020 to August 9, 2024.

The transaction is expected to close on September 10, 2019. The transaction has been approved by the board of directors of the company.