Hua Yin International Holdings Limited announced that it will issue convertible bonds in aggregate principal amount of up to HKD 150 million on April 28, 2023. The transaction will include participation from not less than six placees, including any professional, institutional, or other private investor. The bonds will bear interest rate of 6% per annum payable in arrears quarterly on 31 March, 30 June, 30 September, and 31 December in each year.

The notes are redeemable at the option of the company and a price equal to the aggregate of 100% of the outstanding principal amount. The conversion price of bonds is HKD 0.445 per share for 337,078,651 common shares of the company. The issuance of the bonds doesn't require shareholder approval.

The issuance of bonds is subject to approval of the Stock Exchange of Hong Kong Limited and all other necessary approvals including The Securities and Futures Commission of Hong Kong. The company will receive net proceeds of HKD 146.5 million.