MS Autotech Co., Ltd. (KOSDAQ:A123040) announced a private placement of 8th series domestic unregistered coupon, unguaranteed, and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on April 11, 2017. The transaction will involve participation from 20 investors including HisStory Investment Management for KRW 3,000,000,000, Fund 5 for KRW 2,500,000,000, and Susung Asset Management Co., Ltd. for KRW 1,800,000,000. The bonds are issued at par and do not bear any interest.

The bonds have a yield to maturity of 2% and would mature on April 13, 2022. The bonds are fully convertible into 3,454,231 common stock of the company at a fixed conversion price of KRW 5,790 per share between the period of April 13, 2018 to March 13, 2022. The subscription and payment date is April 13, 2017.

The transaction has been approved from board of directors of the company.