Seha Corporation (KOSE:A027970) announced a private placement of 59th unregistered unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on March 30, 2015. The bonds will be issued at its face value. The transaction included participation from UAMCO Work-out 1st Corporate Recovery Private Equity Fund, a fund managed by Uamco., Ltd. Asset Management Arm.

The bonds will bear fixed interest of 1% per annum and will have a yield to maturity of 3.71%. The bonds will mature on March 30, 2019 and will be fully convertible into registered common shares at a conversion rate of 100% and at the conversion price of KRW 2,650 per share from March 30, 2016 to February 28, 2019. The transaction was approved by the board of directors of the company.