Grand Peace Group Holdings Limited (SEHK:8108) announced that it has entered into subscription agreements of convertible bonds for a private placement of up to HKD 36,000,000 on January 29, 2019. The bonds are issued at 100% face value of the principal. The transaction included participation from Shanghai Quanfu Industry Company Limited. The bonds have a coupon of 7.5% per annum and will mature on the last day of the 15 month period after the issue date. The bonds are convertible into 144,000,000 common shares at HKD 0.25 per share. The transaction has been approved by the board of directors of the company. The company will receive net proceeds of HKD 35,800,000 in the transaction.