Lenovo targets US$2 billion bond to repurchase debt amid robust AI infrastructure growth (opens in new tab)

Lenovo Group, the world’s largest personal-computer (PC) maker, plans to raise US$2 billion through a convertible-bond offering, with the proceeds earmarked to repurchase existing debt and buy back shares. The Hong Kong-listed company’s proposed zero-coupon convertible bonds will mature in 2033 and can be exchanged for 426.9 million shares at an initial conversion price of HK$36.70, or US$4.68 a share, according to a Hong Kong stock exchange filing on Thursday. “Lenovo’s convertible bond...