Lenovo in CNY4.0 Billion Notes Offering

June 10, 2015

Cleary Gottlieb represented Lenovo Group Limited in its CNY4.0 billion offering of 4.950% notes due 2020 under Regulation S. This transaction is Lenovo’s inaugural dimsum bond offering. The Notes are listed on The Stock Exchange of Hong Kong. The offering priced on June 3 and closed on June 10.

Lenovo is the world's largest PC vendor and third largest smartphone company. It was founded in China in the 1980s and its common shares are listed on The Stock Exchange of Hong Kong. Lenovo expanded its business and operations to a global scale through the acquisition of IBM’s PC division in 2005. In 2014, Lenovo acquired Motorola Mobility and IBM’s x86 server hardware and related maintenance services business.