NIO announces private placement of US$100m convertible notes

NIO, a pioneer in China’s premium electric vehicle market announced on its investor relations website that it has recently completed a total of US $ 100 million in convertible debt financing projects. The investors are two Asian investment funds with amounts of US$70 million and approximately US$30 million, respectively.

NIO, a pioneer in China’s premium electric vehicle market announced on its investor relations website that it has recently completed a total of US $ 100 million in convertible debt financing projects. The investors are two Asian investment funds with amounts of US$70 million and approximately US$30 million, respectively.

According to the announcement, the two Asian investment funds invested are “unaffiliated”, which means they are financial investors, not strategic investors.

NIO said that the Company is currently working on several other financing projects, and positive progress has been made. The company will announce any material developments or information subject to the requirements by applicable laws. At this stage, NIO is mainly focusing on financing projects that can bring strategic value to business development and efficiency improvement in China.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/nio-announces-private-placement-of-us-100m-convertible-notes/.

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