The Board announced that on 23 January 2017, Biostime International Holdings Limited entered into the purchase agreement with Goldman Sachs in connection with the issue of USD 200,000,000 7.25% Senior Notes due 2021, maturity date is 21 June 2021. The Senior Notes will bear interest from and including 21 December 2016 at a rate of 7.25% per annum, payable semi-annually in arrears. The gross proceeds of the Senior Notes Issue will be USD 209 million. The proceeds of the Senior Notes Issue are expected to be used, together with the Company's cash on hand, to fund the Swisse Minority Acquisition. Initial Subsidiary Guarantors were British Virgin Islands, Cayman Islands, Hong Kong and Australia subsidiaries of the Issuer which are: Biostime International Investment Limited, Biostime Hong Kong Limited, Biostime Healthy (BVI) Limited, Biostime Healthy (Cayman) Limited, Biostime Healthy II (BVI) Limited, Biostime Healthy Hong Kong Limited, Biostime Healthy Australia Investment Pty Ltd, Biostime Healthy Australia Pty Ltd, Biostime Healthy Australia Holdings Pty Ltd, Swisse Wellness Group Pty Ltd, SWG Holdco Pty Ltd. and Swisse Wellness Pty Ltd. The Senior Notes will only be offered and sold in an institutional offering to qualified institutional buyers in the United States in reliance on Rule 144A under the U.S. Securities Act and outside the United States in reliance on Regulation S. Events of default with respect to the Senior Notes include, among others, failure to pay principal, interest or additional amounts. On or after 21 June 2018, the Company may on any one or more occasions redeem all or any part of the Senior Notes, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Senior Notes redeemed, to (but not including) the applicable redemption date, if redeemed during the twelve-month period beginning on 21 June of the year.