BEIJING, March 18 (Xinhua) -- China's fast-growing online group discounter Pinduoduo announced Sunday that it would subscribe for 200 million U.S. dollars worth of 3-year convertible bonds issued by Chinese home appliance retailer Gome Retail.
The bonds will carry a coupon of 5 percent per annum, according to the announcement,
At the same time, Pinduoduo also announced a strategic comprehensive partnership with the household appliance and electronics retailer.
This move will help bring Gome’s products onto Pinduoduo’s platform at competitive prices and meanwhile expand Pinduoduo’s foothold in household appliances and electronics fields.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
A single purchase
