Pusan Cast Iron Co., Ltd. (KOSE:A005030) announced a private placement of round 7 non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on October 5, 2020. The transaction will include participation from Seoul Finance Club. The bonds are fully convertible into 19,841,269 common shares of the company at conversion price of KRW 504 per share which represents 46.76% of the stake in the company. The conversion period starts at November 17, 2021 and ends at October 17, 2023. The maturity date of bonds is November 17, 2023. The payment date is November 17, 2020 and subscription date is October 5, 2020. The bonds will carry an interest rate of 5% and coupon rate of 3.5% in the transaction. The transaction has been approved by the board of directors of the company.