Stream Group Limited announced a private placement of unsecured convertible notes for gross proceeds of AUD 500,000 on July 25, 2016. The notes will mature on December 31, 2016. The notes have a face value of AUD 25,000 each, bear fixed interest at the rate of 8% per annum and are convertible into ordinary shares of the company at a fixed conversion price of AUD 4.5 per share. The transaction will include participation from existing sophisticated and professional investors. The company has a provision for receiving an additional AUD 500,000 in notes to be issued if required.