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Nio prices $1.3 billion in convertible notes, half of which don’t pay interest – MarketWatch

Nio Inc. undefined announced Wednesday the pricing of the $1.3 billion in convertible notes, which included $650 million in notes due 2026 and $650 million…

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Nio Inc.
NIO,
-1.05%
announced Wednesday the pricing of the $1.3 billion in convertible notes, which included $650 million in notes due 2026 and $650 million in notes due 2027. The China-based electric vehicle maker said the 2026 senior unsecured notes will not pay interest, and the principal amount will not accrete. Nio’s stock slipped 0.3% in premarket trading. The 2027 senior notes will pay interest at a rate 0.50% a year. The holders may convert the 2026 notes any time on or after Aug. 1,…

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