Wed 09/14/2022 04:02 AM
UPDATE 2: 4:02 a.m. ET 9/14/2022:
Reorg Asia’s Highlights:
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iQIYI Inc. may need to rely on a liability management exercise to resolve its liquidity shortfall in relation to its $1.2 billion 2% convertible notes due 2025 puttable on April 1, 2023, absent any further capital raising or parental support.
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The company could launch a capped tender offer funded by its $500 million private placement convertible notes with PAG, while requiring tendering noteholders to waive their right...
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