Louis XIII Holdings Limited (SEHK:577) announced a private placement of shares and convertible bonds on November 7, 2013. The company will issue the securities to certain existing shareholders and other potential investors of the company. The company is yet to finalize the material terms for the transaction.

On November 8, 2013, the company announced that it will issue convertible bonds to existing investor Ontario Teachers' Pension Plan for gross proceeds of HKD 299,942,350. The company will issue zero coupon bonds in registered form in the denomination of HKD 100,000 each, to be subscribed at 100% of their principal amount. The bonds will mature on February 5, 2025. The bonds are convertible into common shares of the company at a conversion price of HKD 8.23 per share. The company will issue a maximum of 36,445,000 shares upon conversion of the bonds. The company expects to receive HKD 286,000,000 of net proceeds from the transaction. The bonds will carry 7.50% interest upon conversion. The transaction is expected to close on December 16, 2013.