In May 2015, the Company completed the issue of convertible bonds at a par value of HK$892.2 million, bearing a coupon rate of 3.0% per annum and arrangement fee of 3.5% per annum to three renowned asset managers: China Huarong International Holdings Limited (formerly known as Huarong (HK) International Holdings Limited), Great Wall Pan Asia International Investment Co., Limited and China Everbright Financial Investments Limited. The bonds mature in three years from the issue date and can be converted into shares at the holder’s option at any time between the 41st day after their issue date and the 10th day before their maturity date. The conversion price is HK$11.28 per share, subject to adjustment in accordance with the terms and conditions of the bonds. The Convertible Bonds are convertible into new shares of the Company at a conversion price of HK$11.28 per share (subject to adjustments). The maturity date of the Convertible Bonds will fall on the expiry of three years from the date of issuance of the notes.