China Household Holdings Limited (SEHK:692) announced that it has entered into a subscription agreement for private placement of convertible bonds for gross proceeds of HKD 365,145,000 on March 10, 2017. The transaction will include participation from not less than six investors, including Luo Jianhua. The convertible bonds are convertible into 1,106,500,000 shares at fixed conversion price of HKD 0.33 per share and carry fixed 2% interest rate per annum payable at maturity date. The convertible bonds will mature in two years from date of issuance. The convertible bonds are redeemable at any time prior to the maturity date. The bonds will be issued at par. The company will receive net proceeds of HKD 365,100,000 in the transaction.