TUS International Limited (SEHK:872) announced that it has entered into subscription agreement for private placement of convertible bonds for gross proceeds of HKD 300,000,000 on March 1, 2017. The transaction will include participation from existing investor TusPark Capital and new investors, CM Securities Investment Limited and Munsun Smart Mobility Fund LP. The company will pay expenses of HKD 4,500,000 in the transaction. The company will receive net proceeds of HKD 295,500,000 in the transaction. The bonds are convertible into 329,561,682 shares of the company at a fixed conversion price of HKD 0.9103 per share. The bonds will be issued at par value. The bonds will mature on the second anniversary of the issue date, subject to the company’s discretion to extend for one additional year. The bonds will bear a fixed interest rate of 6% per annum payable every six months. The bonds are transferable, subject to prior approval of the company. The bonds are redeemable in nature. The bonds shall constitute direct, unsubordinated, unconditional, and unsecured obligations of the company. The transaction is subject to shareholders' approval at its Extraordinary General Meeting to be held on April 13, 2017. The completion of the transaction is subject to fulfillment of the precedent conditions. If the precedent conditions are not fulfilled by September 30, 2017, the company shall terminate the agreement. The company expects to close the transaction on third business day from the date of fulfillment of precedent conditions.