NQ Mobile closes private placement of USD220m convertible notes

Mobile Internet services provider NQ Mobile has closed on a private placement of USD220 million of convertible notes due 2018 with Zhongzhi Hi-Tech Overseas Investment Ltd, the company said.

The 2018 notes bear interest at a rate of 8.0% per annum from the issuance date and mature in October 2018.

NQ Mobile offerings include mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications and other mobile applications.