Lenovo in $2 Billion Convertible Bond Offering and Concurrent Partial Repurchase of Existing Convertible Bonds

Cleary Gottlieb represented Lenovo Group Limited (Lenovo, HKEx: 992) in its offering of $2 billion in aggregate principal amount of zero-coupon convertible bonds due 2033 and its concurrent partial repurchase (i.e., repurchase of approximately $225 million in aggregate principal amount) of its outstanding convertible bonds due 2029.

The bonds are convertible into ordinary shares of Lenovo. The offering of the bonds and the repurchase were priced on June 18, 2026, and closed on June 25, 2026.

Lenovo is a global technology powerhouse, ranking #196 in the Fortune Global 500 and serving millions of customers in 180 markets. Lenovo is the world’s largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices, infrastructure, software, solutions, and services.

The Cleary team included partners Freeman Chan, Shuang Zhao, and Miao Zhang; counsel Robert Williams and Daisy Yan; senior attorneys Vivien Ho and Keri Gu; and associates Quinn Lau, Charmaine Wong, and Otilia Chan.