Nio adds to funding spree with $1.3bn dual-tranche CB

Chinese electric vehicle manufacturer Nio is tapping the equity-linked market for a jumbo convertible bond, as it looks to add more to its coffers just a month after a multi-billion-dollar share sale.
The New York Stock Exchange-listed company is looking to raise at least $650m each from an issue of 2026 and 2027 convertible notes. There are also 30 day options to raise an additional $100m for both tranches.
Bookrunners CICC, Credit Suisse, Goldman Sachs and Morgan Stanley launched a ...Already a subscriber? Login