Reported 4 months ago
Lenovo Group Ltd. intends to issue $2 billion of zero-coupon convertible bonds to Saudi Arabia's sovereign wealth fund as part of a strategic partnership. The deal includes building a research center in Riyadh and expanding production in the region. The move aims to enhance Saudi Arabia's competitiveness in advanced technologies like AI, amid a growing US-China tech rivalry. The bonds would represent about 12% of Lenovo's current capital upon maturity.
Source: YAHOO