GOME Retail Holdings Limited (SEHK:493) announced that it has entered into an subscription agreement with new investor JD.com International Limited for private placement of 5% convertible bonds due 2023 for gross proceeds of $100,000,000 on May 28, 2020. The bonds are convertible into 621,513,944 common shares representing 2.80% stake at a fixed conversion price of HKD 1.215 ($0.15672) per share. The bonds will be issued at par and matures in 3 years of issue, and maturity may be extended to 5 years at the option of investor. The bonds bears fixed interest of 5% per annum. The bonds will be direct, unsubordinated, unconditional and unsecured obligations of the company. The company will receive receive net proceeds of $99,000,000 in the transaction. The transaction is subject to certain conditions. If the conditions are not fulfilled by th elong stop date which is August 31, 2020, the transaction will be terminated. The transaction is expected to close within five business days from fulfillment of the conditions. The company may redeem in whole the bonds for the time being outstanding at the redemption amount.