in

iQIYI Targets Raising $1.1B In Convertible Bonds

Video-streaming firm iQIYI, backed by search engine giant Baidu, returned to the capital markets on Wednesday with a $1.05 billion six-year convertible bond, in what is the second-largest such deal by a U.S.-listed Chinese company.

The deal is also the latest example of the growing popularity of some of the convertible bonds among newly listed Chinese tech companies that are searching for growth capital.

iQIYI sold the bonds with a coupon of 2%, at the bottom of an indicative range of 2% to 2.5%, successfully managing to lower its borrowing costs compared to its last such offer that carried a coupon of 3.75% and had a shorter tenor.

This post was created with our nice and easy submission form. Create your post!

FavoriteLoadingAdd to favorites

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

Comments

comments

Japan’s GameWith Invests In e-Sports Startup GamingMonk

Tatas Enter Airports Business, To Invest In GMR Unit