Why Nio is announcing early redemption of convertible senior notes due 2024
Why Nio is announcing early redemption of convertible senior notes due 2024
Close on heels of reporting strong deliveries for December, $NIO Inc(NIO.US)$ announced Monday plans to buy back debt that is maturing in 2024.
紧随其后的是12月份强劲的交付报告，$蔚来(NIO.US)$周一宣布计划回购将于2024年到期的债务。
What Happened: Nio said it is notifying holders of its 4.5% convertible senior notes due 2024 that they have the right to require the company to repurchase all of, or portion of the notes, for cash on Feb. 1, 2022.
发生的事情：蔚来表示，正在通知2024年到期、息率为4.5%的可转换优先票据的持有人，他们有权要求公司在2022年2月1日以现金形式回购全部或部分票据。
The repurchase price for such notes will be equal to 100% of the principal amount of the notes to be repurchased plus any accrued and unpaid interest.
该等债券的回购价格将相等于拟回购债券本金的100%，另加任何应计及未付利息。
The repurchase rights can be exercised from 9 a.m. Eastern Time on Monday and will expire at 5 p.m. on Jan. 28, 2022, according to Nio.
回购权利可以从上午9点开始行使。东部时间周一，将于下午5点到期。根据蔚来的数据，2022年1月28日。
In line with the rules of the SEC, the company said it will file a tender offer statement on Schedule TO. Documents specifying the terms, conditions and procedures of exercising the repurchase right will be made available through The Bank of New York Mellon Corporation (NYSE:BK), which is the Depository Trust company and the paying agent.
根据美国证券交易委员会的规则，该公司表示，将如期提交收购要约声明。列明行使回购权的条款、条件及程序的文件将于纽约梅隆银行公司(纽约证券交易所代码：BK)，这是存托信托公司和支付代理。
Why It's Important: Senior convertible note is a debt instrument that carries with it an option to be converted into a predefined amount of the issuer's shares. It offers investors the advantage of getting interest payments that will accrue. The amount the company owes to subscribers of the notes increase over time.
为什么它很重要：优先可转换票据是一种债务工具，带有可转换为发行人预定金额的股票的选择权。它为投资者提供了获得将产生的利息支付的优势。随着时间的推移，该公司欠票据认购者的金额会增加。
The early redemption, therefore, could have been initiated with the objective of reducing interest expenses.
因此，提前赎回可能是为了减少利息支出而启动的。
As of Dec. 30, 2021, the aggregate principal amount of notes outstanding was $165.291 million, Nio said in a filing.
蔚来在一份文件中说，截至2021年12月30日，未偿还票据的本金总额为1.6529.1亿美元。