Acheter-Louer.Fr SA (ENXTPA:ALALO) announced a private placement of convertible bonds for gross proceeds of €25 million on June 28, 2017. The company has received commitment for €22 million. The transaction will close within six years. The bonds are of nominal value of €1 per share. The company will also issue warrants in the transaction. The bonds carry fixed interest rate of 1%. The bonds are convertible at a conversion price of minimum of 75% of the average closing share price over a period of ten consecutive trading days in the three months preceding the date of conversion. The conversion of the bonds are mandatory at maturity.