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.
Reuters
