Home / Business / Nio is priced at $ 1.3 billion in convertible notes, half of which do not pay interest.

Nio is priced at $ 1.3 billion in convertible notes, half of which do not pay interest.



Nio Inc.NIO,
-1.05%
It announced on Wednesday the price of $ 1.3 billion convertible notes, which included $ 650 million in notes due 2026 and $ 650 million in notes due 2027, the Chinese electric vehicle maker said. Senior Unsecured, 2026 will not pay interest and the principal amount will not accumulate.Nio shares were down 0.3 percent in futures trading. The senior 2027 note pays interest at a rate of 0.50% per annum.Holders can convert the 2026 notes at any time on or after August 1

, 2025 and 2027. The notes may be converted on or after August 1, 2026 to American stock cash ( ADS) or a combination of cash and ADS.The default conversion rate for notes to ADS is equivalent to $ 93.06 per ADS, 50 percent higher than Tuesday’s closing price of $ 62.04.Nio shares were up 187.0 percent over three months. They last until Tuesday, while the iShares MSCI China ETF MCHI
+ 1.16%
Received 8.0% and S&P 500 SPX
+ 0.04%
8.2% progress


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