Lenovo issues $2B zero-coupon convertible bonds to Alat, a PIF subsidiary, for debt repayment and corporate purposes; signs collaboration agreement for regional HQ and manufacturing facility in Saudi Arabia.
Lenovo Group has issued $2 billion in zero-coupon convertible bonds to Alat, a subsidiary of Saudi Arabia's Public Investment Fund (PIF). The company plans to use the proceeds from the bond issuance to repay existing debt and for general corporate purposes. In addition, Lenovo and Alat have signed a collaboration agreement to establish a regional headquarters in Riyadh, Saudi Arabia, and a new manufacturing facility in the country to serve customers in the Middle East and Africa region.
May 29, 2024
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