Lenovo issues debut CB as debt repayment looms

The Chinese technology giant has raised $675 million from its first hybrid securities issue. This might just reduce Lenovo's leverage.

Lenovo issues debut CB as debt repayment looms

Lenovo made its debut in Asia’s equity-linked market on Tuesday as the Chinese technology giant raised $675 million from a convertible bond issue to repay a massive US dollar debt due in four months.

The world’s largest personal computer maker tapped the hybrid security at a time when its gearing ratio hit its highest level since it went public in 1999. Its net debt-to-equity ratio reached 43% as of the end of March last year,...

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