Latham Advises on iQIYI’s US$350 Million Convertible Bond Offering and Repurchase of Existing US$300 Million Convertible Notes

Latham & Watkins has advised the underwriters on the offering of US$350 million in aggregate principal amount of 4.624% convertible senior notes due 2030 by iQIYI, a leading provider of online entertainment video services in China. Latham also advised the underwriters on the concurrent private repurchase by iQIYI of approximately US$300 million principal amount of iQIYI’s existing convertible senior notes from certain holders of such notes.

The Latham team was led by Hong Kong corporate partners Benjamin Su and Posit Laohaphan, New York counsel Polina Tulupova and Hong Kong counsel Eric Yiu, with New York associate Jack Neff, and Hong Kong associates Christine Lo, Eunice Chan, and Zhaoxin Huang, with foreign legal consultant Jenny Zhang and senior paralegal Lily Mak.