05:45 PM EDT, 03/27/2025 (MT Newswires) -- Qifu Technology ( QFIN ) late Thursday said it has closed on a $690 million offering of 0.50% convertible senior notes due 2030, which includes the full exercise of the $90 million overallotment option provided to underwriters.

Net proceeds will be used to repurchase its American depositary shares and class A ordinary shares from time to time, the company said.

The notes are convertible at an initial price of $59.71 per ADS, the company added.

Qifu ( QFIN ) expects the offering to be immediately accretive to 2025 earnings per ADS upon closing.