WooriNet, Inc. (KOSDAQ:A115440) announced a private placement of 2nd series unregistered coupon unguaranteed non-detachable private convertible bonds for gross proceeds of KRW 10,000,000,000 on April 16, 2018. The convertible bonds will be issued at par. The bonds are fully convertible into 970,026 common shares at a fixed conversion price of KRW 10,309 from April 17, 2019 to March 17, 2023. The bonds and debentures carry a coupon rate of 3.5%, yield to maturity of 3.5% and will mature on April 17, 2023. The transaction was approved by the board of directors of the company. The transaction is expected to close on April 17, 2018. The transaction will include participation from new investor SETI Value Holdings Limited Company.