China's Bilibili launches $575 million convertible notes offering

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May 21, 2025 4:32 PM EDT

FILE PHOTO: A person plays a racing game at the Bilibili booth during a media day for the Auto Shanghai show in Shanghai, China April 24, 2025. REUTERS/Go Nakamura/File photo

(Reuters) -China's online video-sharing platform Bilibili said on Wednesday it is offering up to $575 million worth of convertible notes to raise money to develop its content ecosystem.

The company said the offering will include $500 million of convertible senior notes due 2030, with an option to purchase a further $75 million worth.

The funds will facilitate user growth, building intellectual property and also fund the repurchase of some of class Z shares, Bilibili said.

Goldman Sachs, Morgan Stanley, JP Morgan and UBS are acting as the joint bookrunners for the senior notes offering.

(Reporting by Sneha Kumar in Bengaluru; Editing by Savio D'Souza)


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