Lenovo Raises $2 Billion in 2033 Convertible Bonds at 47.5% Premium
Updated
Updated · Bloomberg · Jun 17
Lenovo Raises $2 Billion in 2033 Convertible Bonds at 47.5% Premium
3 articles · Updated · Bloomberg · Jun 17
Summary
$2 billion came from Lenovo’s sale of seven-year zero-coupon convertible bonds due in 2033, according to a Thursday exchange filing.
The bonds were priced at a 47.5% conversion premium to Wednesday’s closing share price, near the upper end of the 40% to 50% range marketed to investors.
The fundraising marks Lenovo’s second roughly $2 billion capital raise in two years, after a similar deal with Saudi Arabia’s sovereign wealth fund.