[DISCLOSURE] Hyundai IBT (048410), a Hyundai Electronics subsidiary, reported on Aug. 3 that it will issue convertible bonds worth 8 billion won (US$7.17 million) to finance its operations.

The bonds will be offered to Hyundai Savings Bank, Industrial Bank, CSquare Mezzanine Plus Investment Trust No.1 and No. 2, Golden Bridge Investment & Securities, NH Investment & Securities and LIG Investment & Securities. The coupon rate and maturity rate are 1 percent and 4 percent, respectively.