Natural Food & Pharmaceuticals Corp (XKON:A086220) announced a private placement of 18th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on March 29, 2017. The bonds will be issued at par. The transaction will include participation from new investors Susung Asset Management Co., Ltd. for KRW 1,500,000,000, Hands Partners Corporation for KRW 1,200,000,000, and KB Securities Co., Ltd., Investment Arm for KRW 300,000,000. The bonds will mature on March 30, 2020. The bonds carry fixed coupon rate of 1% and yield to maturity of 4%. The bonds are 100% convertible into common shares at KRW 3,500 per share from March 30, 2018 to February 29, 2020. The transaction has been approved by the board of directors of the company. The transaction is expected to be completed by March 30, 2017.