iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading provider of online entertainment video services in China, today announced the commencement of an offering by the Company of US$600 million aggregate principal amount of its convertible senior notes due 2028 (the “Notes”), subject to market and other conditions (the “Notes Offering”).
The Company intends to use the net proceeds from the Notes Offering for repayment and/or repurchase of the existing debt securities.