WOORIRO Co., Ltd. (KOSDAQ:A046970) announced a private placement of series 6 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on October 27, 2016. The bonds will be issued at its par value. The transaction will include participation from Aswon Construction Co., Ltd., Naraewin Co., Ltd., Jooyon Tech Co., Ltd. (KOSE:A044380)., and Mark Two Investment Co., Ltd. for KRW 2,000,000,000, KRW 1,000,000,000, KRW 1,000,000,000, and KRW 1,000,000,000 respectively.

The bonds will carry a coupon rate of 3% per annum and a yield to maturity of 3%. The bonds will mature on October 28, 2019. The bonds are fully convertible into registered common shares of the company at a conversion price of KRW 2,367 per share.

The conversion period of the bonds will be from October 28, 2017 to September 28, 2019. The payment date for the bonds is expected on October 28, 2016. The transaction was approved by the board of directors of the company.