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Snap: $650m convertible bond issue
(CercleFinance.com) - On Thursday Snap Inc.
announced a $650m convertible bond issue, a transaction that comes on the heels of last month's earnings release that was applauded by investors. The owner of the Snapchat messaging service plans to market bonds maturing in 2030, with a coupon of 0.5%, in a private placement reserved for institutional investors. The transaction, which comes with a $100m over-allotment option, is expected to close on Monday 13 May. The Californian group, which intends to use part of the proceeds to repay a previous bond issue maturing in 2026, is capitalizing on its successful quarterly publication on 26 April, which boosted its stockmarket appeal. Since then, its shares have surged by over 46%. Copyright (c) 2024 CercleFinance.com. All rights reserved. |
09/06/2025 17:28
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