(Reuters) -China’s online video-sharing platform Bilibili said on Wednesday it is offering up to $575 million worth of convertible notes to raise money to develop its content ecosystem. The company said the offering will include $500 million of convertible senior notes due 2030, with an option to purchase a further $75 million worth. The funds […]
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China’s Bilibili launches $575 million convertible notes offering
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(Reuters) -China’s online video-sharing platform Bilibili said on Wednesday it is offering up to $575 million worth of convertible notes to raise money to develop its content ecosystem.
The company said the offering will include $500 million of convertible senior notes due 2030, with an option to purchase a further $75 million worth.
The funds will facilitate user growth, building intellectual property and also fund the repurchase of some of class Z shares, Bilibili said.
Goldman Sachs, Morgan Stanley, JP Morgan and UBS are acting as the joint bookrunners for the senior notes offering.
(Reporting by Sneha Kumar in Bengaluru; Editing by Savio D’Souza)