TIL Logistics Group Limited (NZSE:TLL) announced a private placement of mandatory convertible notes for gross proceeds of NZD 8,200,000 on May 3, 2021. The transaction will include participation from certain of its largest shareholders and other wholesale investors. The notes bear an interest rate of 5% per annum, payable quarterly, has a principal amount of NZD 50,000 each and will mature on April 20, 2026. The notes will be convertible into common shares of the company. The notes are unsecured in nature and are not guaranteed.