FIRSTEC Co., Ltd (KOSE:A010820) announced a private placement of 31st series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 16,000,000,000 on July 25, 2018. The transaction will involve participation from KDB Capital Corporation, Investment Arm for KRW 3,000,000,000, Industrial Bank of Korea, Investment Arm and IBK Capital Corporation for KRW 2,000,000,000 each, and other investors. The bonds will mature on July 27, 2023. The bonds are 100% convertible into common shares at a price of KRW 3,250 from July 27, 2019 to June 27, 2023. The transaction will close on October 27, 2018. The transaction has been approved by the board of directors of the company.