iQiyi back for more with $1.1bn ADS convertible bond

Popcorn_boy_230px
By Jonathan Breen
26 Mar 2019

Nasdaq-listed video streaming platform iQiyi has returned for a second time to the equity-linked market, having launched a one-day bookbuild on Tuesday for a convertible bond that could reach $1.05bn.

The issuer, backed by Chinese internet search engine Baidu, is in the market with a six non-put four year CB. The bond has a base size of $1.05bn and a $150m greenshoe.

iQiyi is offering the notes with a coupon range of 2%-2.5% and a premium of 27.5%-32.5% ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial