iQIYI Prices Upsized Offering of US$350 Million Convertible Senior Notes due 2030 and Announces Concurrent Repurchases of Approximately $300 Million Convertible Senior Notes
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iQIYI, Inc. (Nasdaq: IQ) has announced the pricing of a $350 million upsized offering of convertible senior notes due 2030, with a 4.625% interest rate. Concurrently, the company plans to repurchase approximately $300 million of its existing convertible senior notes.
February 20, 2025 | 2:45 pm
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iQIYI has announced a $350 million convertible notes offering due 2030 with a 4.625% interest rate, and plans to repurchase $300 million of existing notes. This move could impact the company's debt structure and financial flexibility.
The issuance of new convertible notes and the repurchase of existing ones will affect iQIYI's debt profile. The new notes provide capital but also increase debt obligations. The repurchase of existing notes may reduce interest expenses and improve financial flexibility. However, the overall impact on stock price is neutral as it balances new debt with repurchase.
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