AsiaNetworking (00679.HK) announced that its wholly-owned subsidiary Asia Plating Equipment acquired bonds with a total face value of approximately US$3 million (excluding transaction costs) at a total cost of US$2.689 million (HK$20.9745 million) yesterday (10).

According to the bond issuer, CLP Power Hong Kong Financing Limited, has a maturity date of June 30, 2030, at a rate of 2.125% per annum, payable once every six months.

AsiaNetech said that the purchase of the bonds will be paid for by internal resources within the group. The above bonds have a higher rate of return compared to the fixed deposit rates offered by the Commercial Bank of Hong Kong. Given the terms of the term notes, including purchase price, fare rate, maturity date, issuer's background, the directors consider the terms of the term notes to be fair and reasonable and in the overall interests of the company and its shareholders.