Elentec Co., Ltd. (KOSDAQ:A054210) announced a private placement of the fifth registered unsecured unguaranteed private convertible bonds for gross proceeds of KRW 3,500,000,000 on January 5, 2016. The bonds will be issued at par. The bonds will mature on January 7, 2021.

The bonds will carry yield to maturity of 1.5% and zero coupon rate. There will be lump-sum redemption of principal on maturity date for the bonds. There will be a 100% conversion rate of bonds to common shares at fixed conversion price of KRW 6,460 per share.

The conversion period will be from January 7, 2017 till December 7, 2020. The transaction will include participation from a new investor, The Export-Import Bank Of Korea, Investment Arm. The transaction was approved by the board of directors of the company.

The subscription date and the payment date for the transaction is January 7, 2016.