TECH - NIO Announces Terms Of Convertible Note Issuance; Notes Dilute Existing Holders By 6% Above Market Price | Benzinga
Chinese luxury EV maker NIO Inc. (NYSE: NIO) detailed Wednesday the terms and pricing of its previously-announced $1 billion in new convertible debt:
- Two $500 million tranches of 2029 and 2030 notes will be issued with interest rates of 3.875% and 4.625%, respectively
- The notes will include an option offering purchasers the right to purchase an additional $75 million of each of the notes within 30 days of the offering
- The interest payments will be made semiannually ...