Lenovo Group announced a $2 billion issuance of zero-coupon convertible bonds on June 18, 2026. These bonds are scheduled to mature in 2033. The company estimates net proceeds will reach approximately $1.979 billion. The initial conversion price carries a 47.5% premium over the last closing price.
Lenovo will use the capital to refinance existing debt and fund share repurchases. The company also plans to buy back a portion of its convertible bonds due in 2029.
Lenovo and Nokia signed a multi-year patent cross-license agreement on the same day. This settlement resolves all pending patent litigation between the two firms. Specific terms of the agreement remain confidential.