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IQiyi launches $300m convertible bond
Chinese video streaming platform iQiyi has launched a US$300 million convertible bond offering.
The five-year unsecured senior notes feature an annual coupon rate between 4.25% and 4.75%, payable quarterly.
Proceeds from the bond issuance will be allocated to managing existing debt and covering general corporate expenses.
Bank of America, Morgan Stanley, and JPMorgan are serving as joint bookrunners for this transaction.
Recent iQIYI developments
| Timeline |
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04-Jan-2023 🎥 IQiyi closes $500m debt offering deal with PAG
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05-Sep-2022 📺 Behind iQiyi’s long, painful road to profitability
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03-Dec-2021 📉 IQiyi may lay off up to 40% of its workforce
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02-Dec-2021 📺 Alipay+, iQiyi bolster payments partnership
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07-Oct-2021 📈 China Roundup: iQiyi picks advisers ahead of $500m Hong Kong IPO, and other news
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