New Issue: China’s Lenovo prices $150 million add on to preferred shares

New York, March 30 – China’s Lenovo Group Ltd. priced a $150 million add on to its recent offering of $850 million of perpetual cumulative preferred shares, according to a company filing.

The $1,000-par preferreds carry a 5 5/8% dividend and were issued via Lenovo Perpetual Securities Ltd.

ANZ, BOC, Barclays Bank, BNP Paribas, CCB Asia, Citigroup, Credit Agricole CIB, DBS Bank, BofA Merrill Lynch, Mizuho Securities, Morgan Stanley, MUFG, Societe Generale and Standard Chartered Bank were the bookrunners for the Regulation S deal. BNP Paribas, Citigroup, DBS Bank, and Morgan Stanley were also the joint global coordinators.

As with the original $850 million, the proceeds will be used to repay amounts outstanding under a promissory note to Google Inc., in relation to the acquisition of Motorola Mobility Holdings LLLC, and for working capital and general corporate purposes.

The earlier $850 million priced on March 9. At that time Lenovo also priced $500 million of 3 7/8% five-year notes at 99.806.

Lenovo is a Beijing-based technology company.

Issuer:	Lenovo Perpetual Securities Ltd. (Lenovo Group Ltd.)
Amount:	$150 million
Securities:	Cumulative preferred shares
Maturity:	Perpetual
Dividend:	5 3/8%
Global coordinators:	BNP Paribas, Citigroup, DBS Bank, Morgan Stanley
Bookrunners:	ANZ, BOC, Barclays Bank, BNP Paribas, CCB Asia, Citigroup, Credit Agricole CIB, DBS Bank, BofA Merrill Lynch, Mizuho Securities, Morgan Stanley, MUFG, Societe Generale, Standard Chartered Bank
Trade date:	March 30
Distribution:	Regulation S

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