Qudian’s $345 Million Convertible Senior Notes Offering

Simpson Thacher represented Qudian Inc. (“Qudian”) in connection with its offering of US$345 million 1% Convertible Senior Notes due 2026 (the “Notes”).

The offering was made pursuant to Rule 144A and Regulation S, and included a fully exercised option to purchase an additional US$50 million principal amount of the Notes granted by Qudian. Credit Suisse, Morgan Stanley and Citigroup acted as representatives of the initial purchasers in the offering.

Qudian, a provider of online credit products, uses big data-enabled technologies (such as artificial intelligence and machine learning) to transform the consumer finance experience in China. Qudian targets hundreds of millions of quality, unserved or underserved consumers in China. Qudian’s American Depositary Shares are traded on the New York Stock Exchange under the symbol of “QD.”

The Simpson Thacher team for the offering included Chris Lin (Picture), Howie Farn, Kai Fan and Andrew Laub (Capital Markets); Jonathan Lindabury and Caitlin L. Wood (Derivatives); and Rob Holo, Jonathan Cantor and William Smolinski (Tax).

Involved fees earner: Caitlin Wood – Davis Polk & Wardwell; Jonathan Cantor – Simpson Thacher & Bartlett; Kai Fan – Simpson Thacher & Bartlett; Howie Farn – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Andrew Laub – Simpson Thacher & Bartlett; Chris Lin – Simpson Thacher & Bartlett; Jonathan Lindabury – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Qudian Inc.;

Author: Michael Patrini