iQiyi prices $1.1bn ADS convertible at top end

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By Jonathan Breen
27 Mar 2019

Chinese streaming platform iQiyi bagged $1.05bn on Tuesday after tapping the equity-linked bond market for a second time, pricing the deal at the issuer-friendly end of guidance.

The Nasdaq-listed company came out on appeared during the morning in Hong Kong marketing a six non-put four year convertible bond with a coupon range of 2%-2.5% and an initial conversion premium of 27.5%-32.5% over its American Depository Shares’ last close

Joint bookrunners Bank of America, Goldman Sachs ...

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