Tway Holdings Incorporation (KOSE:A004870) announced a private placement of 22nd unregistered/unsecured private convertible bonds for gross proceeds of KRW 17,000,000,000 from new investor TY Tomorrow on December 8, 2014. The zero coupon bonds will mature on December 10, 2019. The yield to maturity on bonds is 3%.

The bonds have lump sum redemption of principal on maturity date. The bonds are convertible into registered common shares of the company at a 100% conversion rate at KRW 7,949 per share from December 11, 2015 to November 10, 2019. The subscription date and payment date for the transaction is December 10, 2014.

The company announced that the transaction has been approved by its board of directors.