21.05.2025 09:12:08

Bilibili Announces Proposed Offering Of $500 Mln Of Convertible Senior Notes

(RTTNews) - Bilibili Inc. (BILI), a Chinese video community, on Wednesday announced the proposed offering of $500 million in aggregate principal amount of convertible senior notes due 2030.

The company plans to use the net proceeds from this offering to enhance its content ecosystem, to improve its overall monetization efficiency, and for other general corporate purposes.

Bilibili intends to grant the initial purchasers an option to purchase up to an additional $75 million principal amount of the notes.

Concurrent with the notes offering, a certain number of the company's class Z shares are proposed to be borrowed from third parties and offered in a separate underwritten offering by Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited, each acting severally on behalf of itself or its respective affiliates.

The company also aims to purchase a number of its class Z shares offered in this concurrent delta offering for up to $100 million pursuant to its existing share repurchase program. Bilibili will use a portion of the proceeds from the notes offering for the concurrent repurchase.

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