FinVolution wraps $150m bond offering amid strong demand

By Vriti Gothi

FinVolution Group, a FinTech platform, has completed its $150 million offering of convertible senior notes due in 2030.

The offering, initially launched at $130 million on June 19, 2025, was significantly oversubscribed. Due to robust investor demand, the initial purchasers exercised their full option to acquire an additional $20 million in notes, bringing the total offering to US$150 million.

The transaction underscores the deep confidence global investors place in FinVolution’s business fundamentals, international strategy, and long-term innovation roadmap. It also marks a pivotal step in strengthening the company’s capital position as it accelerates its mission to deliver intelligent, inclusive, and technology-led financial solutions across key global markets.

The net proceeds from the offering will be used to advance FinVolution’s international business expansion, replenish working capital, and fund the concurrent repurchase of American Depositary Shares (ADSs). This capital infusion directly supports the company’s vision of building a borderless, digitally optimized financial ecosystem aligned with the needs of modern consumers and institutional partners.

The newly issued notes are senior unsecured obligations of the company and bear interest at an annual rate of 2.50%, payable semi-annually beginning January 1, 2026. The notes mature on July 1, 2030, unless earlier converted, redeemed, or repurchased. Before the third scheduled trading day before maturity, holders may convert the notes into cash, ADSs, or a combination of both, at the company’s discretion. The initial conversion rate equates to approximately US$12.36 per ADS, reflecting a 30% premium over the closing price of $9.51 per ADS as of June 18, 2025.

FinVolution repurchased approximately 6.38 million ADSs at $9.51 per ADS, matching the market closing price on June 18, representing a total consideration of approximately $61 million. The repurchase was executed under the company’s existing share buyback programs announced in August 2023 and March 2025, reinforcing FinVolution’s commitment to driving long-term shareholder value through strategic capital allocation.

Since its public listing on the New York Stock Exchange in 2017, FinVolution has delivered consistent growth, establishing a presence across China, Indonesia, and the Philippines. The company currently partners with 128 financial institutions and serves approximately 35 million users globally.