Twitter: 1 billion dollar bond issue
(CercleFinance.com) - Twitter has launched a 1 billion dollar convertible senior bond due in 2024 to refinance its debt, the micro-blogging site said on Wednesday.
The private placement to institutional buyers will grant initial purchasers a 30-day option to purchase up to an additional 150 dollars of notes, it said.
Twitter expects to use part of the proceeds to pay the cost of the convertible notes, and to use the remaining amount for general corporate purposes, which may include the payment of convertible senior notes due in 2019.
The announcement comes as Twitter is about to be added to the S&P 500, which will be effective prior to the trading on 7 June.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The private placement to institutional buyers will grant initial purchasers a 30-day option to purchase up to an additional 150 dollars of notes, it said.
Twitter expects to use part of the proceeds to pay the cost of the convertible notes, and to use the remaining amount for general corporate purposes, which may include the payment of convertible senior notes due in 2019.
The announcement comes as Twitter is about to be added to the S&P 500, which will be effective prior to the trading on 7 June.
Copyright (c) 2018 CercleFinance.com. All rights reserved.