Charm Engineering Co.,Ltd. (KOSE:A009310) announced a private placement of 8th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 5,500,000,000 on July 18, 2018. The transaction will include participation from How Investment Co., Ltd. for KRW 2,000,000,000, JNB Corporation Co., Ltd. for KRW 2,000,000,000, Topfield Co., Ltd. for KRW 500,000,000, and other investors. The bond carries no coupon and yield to maturity is 2%.

The bonds have been issued at par and will mature on July 20, 2022. The bonds will be fully convertible into common shares at a fixed conversion price of KRW 1,710 per share from July 20, 2019 till June 20, 2022. The transaction has been approved by board of directors of the company.

The transaction is expected to close on July 20, 2018.