Lenovo to Issue $2 Billion Convertible Bonds Due 2033
MT Newswires Live
Jun 18
Lenovo (HKG:0992) proposed to issue $2 billion of zero-coupon convertible bonds due 2033, according to a Thursday Hong Kong bourse filing.
The bonds will be convertible into Lenovo shares at an initial conversion price of HK$36.70 per share.
The company also plans to repurchase up to $675 million of its outstanding 2.50% convertible bonds due 2029.
Net proceeds will be used to refinance existing debt, including the bond repurchase, fund share buybacks, and for general corporate purposes.
Lenovo said it intends to conduct on-market share buybacks after the completion of the bond offering.
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