China’s Bilibili Unveils $575 Million Convertible Bond Sale in Major Expansion Push

– China’s online video-sharing platform Bilibili announced on Wednesday that it plans to offer up to $575 million worth of convertible bonds to generate funds for developing its content ecosystem.

The firm stated that the issuance will comprise $500 million of convertible senior notes maturing in 2030, along with an option to buy an additional $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, JPMorgan, and UBS are serving as the joint bookrunners for the senior notes offering.

(Sneha Kumar reported from Bengaluru; edited by Savio D’Souza)