Wooridul Pharmaceutical Limited (KOSE:A004720) announced a private placement of 28th unregistered/unsecured private convertible bonds for gross proceeds of KRW 6,400,000,000 on May 29, 2014. The transaction included participation from new investors, Lizard Asset Management Korea Branch, which invested KRW 1,000,000,000, Hyeon-Suk Kim and Ji-Myeong Kim, who invested KRW 1,000,000,000 each, Kyung Hee Heo, who invested KRW 500,000,000. Other individual investors, officers, and employees of the company also invested. The bonds will mature on May 29, 2017 and will have a yield to maturity of 8% and rate of interest of 8% per annum. The bonds will be redeemed on maturity date. The bonds will be convertible at a 100% conversion rate at a conversion price of KRW 500 per share. The conversion period will start on May 29, 2015 and end on April 29, 2017.

On May 29, 2014, Wooridul Pharmaceutical Limited closed the transaction.