| Issuer / Guarantor | Bolt Innovation Limited / J&T Global Express Limited |
|---|---|
| Size | HKD 4650mn |
| Type | Convertible |
| Leads | Morgan Stanley, BoA, JP Morgan |
| Maturity | 05 Feb 2033 (7 years) |
| Coupon | 0% |
| Premium | 30 - 35% |
| Calls | None |
| Puts | 4yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | c/t ratchet |
| CoCo | None |
| Announced | 22 Jan 2026 |