Lenovo Completes Landmark New Bond Notes Issuance on Regulation S Bond Market

HONG KONG, April 24, 2020 – Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced the successful completion of a landmark issuance of US$650 million in bond notes on the Regulation S bond market.

The bonds, which saw significant interest from fixed-income investors from across the globe, will be used to refinance RMB 4 billion of debt due to mature in June 2020, as well as meet general mid- to long-term corporate development needs.  The bonds have a five-year maturity at a coupon rate of 5.875% per annum.  The order book was oversubscribed by a factor of 3.8 times.

In an otherwise weak capital market, the success of this transaction illustrates investor confidence in Lenovo’s global performance and future strategy. It also recognizes the company’s leadership given this is the first unrated benchmark transaction opening up the Asia Regulation S market.

Commenting on the issuance, Lenovo CFO Waiming Wong, said: “The success of this landmark deal recognizes the strong sustainable long-term business Lenovo has, not only based on our past results but also the growth opportunities that lay ahead. We continue to demonstrate that we can thrive despite global market uncertainties.”

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 57,000 employees and operating in 180 markets around the world.  Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy and sustainable digital society. By designing, engineering and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com, follow us on LinkedInFacebookTwitterYouTube, InstagramWeibo and read about the latest news via our StoryHub.



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