Convertibles Calendar: NIO on deck

Sept. 19

NIO INC.

• $500 million tranche of six-year convertible notes; $500 million tranche of seven-year convertible notes

• $75 million greenshoe for each tranche

• Six-year notes talked with coupon of 3.5% to 4% and initial conversion premium of 27.5% to 32.5%; seven-year notes talked with coupon of 4.25% to 4.75% and initial conversion premium of 27.5% to 32.5%

• Rule 144A

• Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and China International Capital Corp.

• Repurchase a portion of the company’s existing debt securities, to strengthen the company’s balance sheet, and for general corporate purposes

• Shanghai-based electric car manufacturer

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