/Nio prices $1.3 billion in convertible notes, half of which dont pay interest – MarketWatch

Nio prices $1.3 billion in convertible notes, half of which dont pay interest – MarketWatch


Nio Inc. 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, 2025 and the 2027 notes may be converted on or after Aug. 1, 2026, to cash, American despositary shares (ADS) or a combination of cash and…

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