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Conyers Dill & Pearman provided BVI and Cayman legal advice to YY Inc. (“the Company”) in connection with an international offering of US$400,000,000 principal amount of the Company’s 2.25% convertible senior notes due 2019 (“Notes”), convertible into American Depositary Shares each representing 20 Class A Common Shares of the Company with par value US$0.00001 per share at the conversion rate. The conversion rate of the Notes is subject to adjustments in some events including certain corporate events or following delivery of a notice of tax redemption prior to maturity. The holders of the Notes may at their option, convert the Notes at any time prior to maturity and have a put option for cash for all or part of their Notes.
Paul Lim of Conyers’ Hong Kong office advised on the matter, working alongside Skadden, Arps, Slate, Meagher & Flom LLP, Davis Polk & Wardwell LLP, Ziegler, Ziegler & Associates LLP and Perkins Coie LLP.