We derive a closed form description of the convex hull of mixed-integer bilinear covering set with bounds on the integer variables. This convex hull description is determined by considering some orthogonal disjunctive sets defined in a certain way. This description does not introduce any new variables, but consists of exponentially many inequalities. An extended formulation with a few extra variables and much smaller number of constraints is presented. We also derive a linear time separation algorithm for finding the facet defining inequalities of this convex hull. We study the effectiveness of the new inequalities and the extended formulation using some examples.