KR Motors Co., Ltd. (KOSE:A00040) announced a private placement of 47th unguaranteed private convertible debentures for gross proceeds of KRW 20,500,000,000 on July 10, 2015. The debentures will mature on July 14, 2019. The debentures will have yield to maturity of 4% per annum and coupon rate of 0% per annum.

The debentures will be 100% convertible into common shares at KRW 1,141 per share. The conversion period will start from July 14, 2016 and will end on July 8, 2019. The transaction will include participation from new investors, Hyundai Season I Mezzanine PEF, a fund managed by Hyundai Asset Management Co.,Ltd for KRW 12,000,000,000, History Investment Co., Ltd. for KRW 2,500,000,000, Course Investment Co., Ltd. for KRW 3,000,000,000, Ace Nanochem Co.,Ltd. for KRW 1,000,000,000, and Hyun-tae Kim for KRW 2,000,000,000.

The subscription and payment date for the transaction is July 14, 2015. The transaction has been approved by the board of directors of the company.