LONDON, March 3, 2020: Morgan Lewis has advised Nasdaq-listed Yandex NV, one of Europe's largest internet companies and a leading tech business in Russia, in its $1.25 billion convertible senior notes offering due 2025.
The notes will pay .75% interest annually, and will be convertible into Class A ordinary shares, with the initial conversion price set at a premium of 47.5% above the reference price on the launch date. The offering was successfully marketed on February 25 and completed on March 3.
Partners Tim Corbett and Carter Brod led the team advising Yandex. This is the latest in a number of transactions in which the firm has advised Yandex, including most recently the company’s groundbreaking corporate restructuring.