Pusan Cast Iron Co., Ltd. (KOSE:A005030) announced a private placement of third unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 4,000,000,000 on July 21, 2017. The bonds will mature on July 25, 2021. The bonds will bear interest at a rate of 2% per annum with yield to maturity of 5%.

The lump-sum amount will be payable on redemption of principal on maturity date for the bonds. The bonds will be 100% convertible into 2,201,430 common shares at a price of KRW 1,817 per share from July 25, 2018 to June 25, 2021. The bonds will be issued at par value.

The transaction payment is date is July 25, 2017. The transaction included participation from the existing investor Megastudy Co. Ltd. (KOSDAQ:A072870) for KRW 1,000,000,000, new investor Blacknumbers Investment Management Co., Ltd. for KRW 200,000,000, Dongsan S&R Co., Ltd. for KRW 400,000,000, Chang, Se-Hoon CEO of the company for KRW 500,000,000, Son, Jueun for KRW 500,000,000, Kim, Jiman for KRW 300,000,000, Lee, Jongdae for KRW 200,000,000, An, Byungchul for KRW 200,000,000, Roh, Kun-Ho officer for KRW 100,000,000, Yoon, Ji-Han officer for KRW 100,000,000, Jang, Manki for KRW 100,000,000, Song, Seokgun for KRW 100,000,000, An, Byungchul employee for KRW 100,000,000, Yoon, Byungho employee for KRW 50,000,000, Hwang, Yongsoo officer for KRW 50,000,000, Kim, Jongwan officer for KRW 50,000,000, Kim, Youngwhal employee for KRW 20,000,000, Jung, Eunyong officer for KRW 20,000,000 and Jang, Taechan employee for KRW 10,000,000.

The transaction has been approved by the board of directors of the company.