Jingtian & Gongcheng and Skadden Arps Slate Meagher & Flom have advised on Chinese video website iQIYI’s $1.5bln convertible bond and American depository share issuance, with Davis Polk & Wardwell and Han Kun Law Offices counselling the underwriters.

Founded by Baidu in 2010, the leading internet video streaming service in China features popular original content, including a comprehensive library of other professionally-produced and user-generated content. The company has previously issued $750mln convertible bonds in December 2018 and $1.2bln in April 2019.