Woongjin Energy Co., Ltd. (KOSE:A103130) announced a private placement of 7th domestic unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on February 26, 2018. The transaction will include participation from a group of investors including, Eugene Investment & Securities Co., Ltd. (KOSE:A001200) and Aju Savings Bank for KRW 4,500,000,000 each and Kiwoom Securities Co., Ltd. (KOSE:A039490) for KRW 1,000,000,000. The bonds are zero-coupon and have yield-to-maturity of 2%.

The bonds will mature on February 28, 2023. The bonds will be converted in 1,940,491 common shares at a conversion price of KRW 7,730. The transaction is expected to close by February 28, 2018.