Skadden advised Yatsen Holding Limited, a China-based beauty group, on the completion of the first tranche of the private placement of RMB-denominated convertible senior notes and warrants. Participants included an investment vehicle affiliated with Trustar Capital; Hillhouse; and Mr. Jinfeng Huang, the company’s founder, chairman and chief executive officer. The total aggregate principal amount of the notes is approximately $120 million, issued in two equal tranches, together with warrants to purchase Class A ordinary shares of the company. The second tranche of the notes is expected to be issued later in 2026. The team included Haiping Li.
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