E1 Corporation (KOSE:A017940) announced a private placement of 31st series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 75,479,430,000 on July 26, 2017. The transaction KRW 5,000,000,000, Shinhan Investment Corp. for KRW 10,000,000,000, Kiwoom Securities Co., Ltd. for KWR 15,479,430,000, Dongbu Securities Co., Ltd. for KRW 10,000,000,000, Meritz Securities Co., Ltd. for KRW 5,000,000,000, NH Investment & Securities Co., Ltd. for KRW 3,000,000,000 and Moorim Capital Co., Ltd. for KRW 5,000,000,000.

The bonds will be issued at par and carry a coupon of 2%. The bonds have yield to maturity of 2% and would mature on July 31, 2022. The bonds will be fully convertible into 1,078,249 shares of the company at a fixed conversion price of KRW 70,000 per share between the periods of August 31, 2017 to June 30, 2022.

The subscription date and payment date is July 31, 2017. The transaction has been approved by the board of directors of the company.