---
title: "CROSSTEC issued a total of HKD 95.5 million convertible bonds to HIL and MKI"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/242783658.md"
description: "CROSSTEC announced that it has signed a convertible bond subscription agreement with HIL and MKI, issuing a total of HKD 95.5 million in convertible bonds. HIL subscribed to HKD 57.1 million in bonds, and MKI subscribed to HKD 38.4 million in bonds, both to be settled by releasing part of the loan obligations. The board believes that the company is not suitable for other fundraising activities and has decided to negotiate a settlement plan for the outstanding amounts with creditors to improve its financial situation"
datetime: "2025-06-02T12:01:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/242783658.md)
  - [en](https://longbridge.com/en/news/242783658.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/242783658.md)
generator: "portal-rs"
---

# CROSSTEC issued a total of HKD 95.5 million convertible bonds to HIL and MKI

According to the Zhitong Finance APP, CROSSTEC (03893) announced that on June 2, 2025 (after trading hours), the company entered into a subscription agreement with HIL, under which HIL conditionally agreed to subscribe and the company conditionally agreed to allocate and issue HIL convertible bonds with a principal amount of HKD 57.1 million, which shall be repaid by releasing the company's partial payment obligations related to HIL loans and previous loans.

On June 2, 2025 (after trading hours), the company entered into a subscription agreement with MKI, under which MKI conditionally agreed to subscribe and the company conditionally agreed to allocate and issue MKI convertible bonds with a principal amount of HKD 38.4 million, which shall be repaid by releasing the company's partial payment obligations related to MKI loans.

The announcement stated that considering the current market price and trading volume of the shares, the group's net debt situation, and the placement completed by the company in February 2025, the board believes that the company may not be suitable for other fundraising activities, especially for amounts comparable to the outstanding amounts under the loans. Therefore, the company has decided to negotiate with its creditors (i.e., HIL and MKI) regarding a proposed settlement plan for the outstanding amounts under the loans, the terms of which are favorable to the company and can improve the company's financial situation

### Related Stocks

- [03893.HK](https://longbridge.com/en/quote/03893.HK.md)
- [HIL.US](https://longbridge.com/en/quote/HIL.US.md)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**