Shougang Concord Century Holdings Limited (SEHK:103) announced that it has entered into subscription agreements of convertible bonds for a private placement of HKD 150,000,000 on December 18, 2018. The bonds are issued at 100% face value of the principal. The transaction included participation Jingxi Holdings Limited. The bond is direct, unsecured, unsubordinated and unconditional obligations of the company. The bonds have a coupon of 4% per annum and payable every six months from the issue date and will mature on the third anniversary from the date of closing, which can be extended by investor for one year twice to the date falling on the fifth anniversary of the issue date of the convertible bonds, subject to the subscriber’s sole discretion. The bonds are convertible into 454,545,454 common shares at HKD 0.33 per share. The company will receive net proceeds of HKD 149,000,000 in the transaction. The transaction has been approved by the board of directors of the company.