| Issuer / Guarantor | Zhen Ding Technology Holding Limited |
|---|---|
| Size | USD 400mn |
| Type | Convertible |
| Leads | Morgan Stanley, Citigroup |
| Maturity | 25 Sep 2030 (5 years) |
| Coupon | 0% (0%) |
| Premium | 10% (7.5 - 12.5%) |
| Calls | @ 100% from Sep 2028 (3 yrs); 125% trigger |
| Puts | 3yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | None |
| CoCo | None |
| Announced | 18 Sep 2025 |