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iQiyi back for more with $1.1bn ADS convertible bond
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? Login
