Bilibili (HKG:9626) priced the offering of $600 million in aggregate principal amount of its 2030 convertible debts, according to a Thursday filing with the Hong Kong bourse.
The price is set at 98.35% of the principal amount of the debts and will incur an interest of 0.625%, the filing said.
The debts are convertible to 25,304,836 shares at a rate of 42.1747 shares per $1,000 principal amount of the debts.
Estimated proceeds are set at $589.5 million.
Purchasers of the shares are entitled to an additional $90 million principal amount of the debts, according to the filing.
Meanwhile, Bilibili also priced a concurrent offering of 10,281,240 class Z shares at HK$140.10 apiece.
The entertainment company also purchased 5,588,140 of the class Z shares from the concurrent offering at HK$140.10 apiece.
Proceeds from the debt offering will be used for the concurrent repurchase, it said.
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