Bilibili Proposes $700 Million Convertible Notes Due 2031
Bilibili plans to offer US$700 million of convertible senior notes due September 15, 2031, including US$200 million subscribed for by Tencent. Noteholders can request cash repurchases on September 15, 2029 or after certain fundamental changes. The company may redeem the notes for cash on or after September 28, 2029 if its share price reaches at least 130% of the conversion price for 20 trading days within any 30-day period.