We advised iQIYI on the transactions

Davis Polk advised iQIYI, Inc. on its Regulation S offering of $350 million of 4.625% convertible senior notes due 2030 and concurrent privately negotiated repurchases of its existing convertible senior notes.

iQIYI, Inc. is a leading provider of online entertainment video services in China. Its platform combines creative talent with technology to foster an environment for continuous innovation and the production of blockbuster content. iQIYI, Inc. produces, aggregates and distributes a wide variety of professionally produced content, as well as a broad spectrum of other video content in a variety of formats.

The Davis Polk corporate team included partner Li He, counsel – registered foreign lawyer Kevin Zhang and registered foreign lawyer Pengyao (Raymond) Lai. The equity derivatives team included partner Yan Zhang, counsel Hanbing Zhang and associate Eugenia S. Lee. Partner Jason Xu and associate Calvin Lam provided advice under the Hong Kong Listing Rules. Members of the Davis Polk team are based in the Hong Kong, Beijing and New York offices.

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