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Nio to offer $1.3 billion in convertible notes – MarketWatch

Nio Inc. undefined said late Monday it will offer $1.3 billion in convertible notes, split into $650 million in notes due 2026 and $650 million due the year…

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Nio Inc.
NIO,
+6.42%
said late Monday it will offer $1.3 billion in convertible notes, split into $650 million in notes due 2026 and $650 million due the year after. Net proceeds will go mostly to general corporate purposes and “to further strengthen its cash and balance sheet positions,” the China-based electric-car maker said. Nio’s American depositary receipts ended at a record $62.70 on Monday, up more than 7%. On its “Nio Day” on Saturday, the company unveiled its newest vehicle, an electric…

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