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Kai Yuan Holdings signs deal over potential issuance of convertible bonds

Kai Yuan Holdings Ltd. signed a subscription deal with its strategic partner, Company and Radiant Assets Management Ltd., over the company's potential issuance of HK$1.00 billion to HK$2.00 billion of convertible bonds.

Under the terms, Company and Radiant Assets Management expressed its intention to subscribe or procure subscription for the convertible bonds. In addition, the parties agreed to negotiate, finalize and enter into a formal subscription deal within the "next three months," beginning from the date of the agreement.

The two companies have yet to agree on the detailed terms and conditions.