Qifu Technology Announces Proposed Offering Of $600 Mln Cash-Par Settled Convertible Senior Notes

(RTTNews) - Qifu Technology, Inc. (QFIN), Tuesday announced a proposed offering of convertible senior notes in an aggregate principal amount of $600 million due 2030.

Additionally, the company offers an option to the initial buyers to purchase upto $90 million in aggregate principal amount of the notes, exercisable for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued.

The Chinese company intends to use the proceeds for repurchasing the American depositary shares and/or its class A ordinary shares.

The company added that it expects the offering to be immediately accretive to 2025 earnings per ADS.

In the pre-market hours, Qifu's stock is trading at $42.36, down 4.70 percent on the Nasdaq.