Pandora TV Co., Ltd. announced a private placement of third unregistered unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on September 22, 2016. The notes will be issued at par. transaction will include participation from Susung Asset Management Co., Ltd. for KRW 2,000,000,000, Bex Fine Investment Management Co., Ltd. for KRW 500,000,000, and Sehee Han for KRW 500,000,000. The bonds have yield to maturity of 5% per annum and shall mature on September 27, 2021. The zero coupon bonds are 100% convertible into registered common shares of the company at KRW 3,000 per share from September 27, 2017 to August 27, 2021. The transaction is expected to be completed by September 27, 2016. The transaction has been approved by board of directors of the company.