Cases & Deals

Citicorp International acts as trustee in $1 billion Rule 144A and Regulation S offering by Qihoo 360 Technology

Clients Citicorp International Limited

Jones Day represented Citicorp International Limited, as trustee, in connection with the $1 billion aggregate principal amount of Convertible Senior Notes due 2020 and Convertible Senior Notes due 2021 in a Rule 144A and Regulation S offering by Qihoo 360 Technology Co. Ltd., a leading antivirus software company.

The Notes were sold to qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended, and non-U.S. persons in offshore transactions in compliance with Regulation S under the Securities Act. The Notes are Convertible into Qihoo 360's American Depositary Shares. The 2020 Notes accrue interest at an annual rate of 0.50%. The 2021 Notes accrue interest at an annual rate of 1.75%.