Lenovo Secures $2bn in Convertible Bonds with Zero Interest
Lenovo has raised $2bn through seven-year convertible bonds, and the most notable thing about this debt is that it pays nothing. The Beijing-based maker of computers and AI servers sold zero-coupon notes due in 2033, priced at a conversion premium of 47.5% to Wednesday’s closing share price. Investors are lending the company money for free.
[This story continues at The Next Web]