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 93,000,000 on March 6, 2017. The transaction will include participation from not less than six investors including Luo Jianhua. The convertible bonds are convertible at fixed conversion price of HKD 0.20 per share and carry fixed 2% interest rate per annum payable at maturity date. The convertible bonds are convertible after two years from the date of issue. The convertible bonds are redeemable at its maturity. The bonds will be issued at par. The company will issue maximum 465,000,000 conversion shares. The company will receive net proceeds of HKD 92,700,000 in the transaction.