Core Viewpoint - China Shipbuilding Leasing (03877) has announced the issuance of HKD 2.338 billion guaranteed convertible bonds due in 2031, which will be backed by the company [1] Group 1: Bond Issuance Details - The issuer, CSSC Capital 2015 Limited, has entered into a subscription agreement to issue the bonds, which are subject to certain conditions [1] - The bonds will be convertible into approximately 978 million shares at an initial conversion price of HKD 2.39 per share, representing about 15.78% of the company's existing share capital as of the announcement date [1] - Upon full conversion of the bonds, the enlarged issued share capital will increase by approximately 13.63% [1] Group 2: Use of Proceeds - The net proceeds from the bond issuance are expected to be approximately HKD 2.322 billion [1] - The company plans to use the net proceeds for working capital and general corporate purposes, including but not limited to repaying existing loans, paying for vessel acquisition costs, and covering other borrowing costs [1]