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Wireless

Snap preparing private placement of USD 750 mln worth of notes

Friday 24 April 2020 | 08:56 CET | News
Snap, which just came out with improved first quarter results, is preparing the private placement of USD 750 million worth of convertible senior notes due 2025. There will likely also be a greenshoe of USD 112.5 million more notes. The money raised will go towards general corporate purposes, including working capital, operating expenses, capital expenditures, and to pay the cost of capped call transactions connected with the offering. Some money may also go to the acquisition of businesses, products, services, or technologies, or for share buybacks.

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Categories: Mobile & Wireless
Companies: Snap
Countries: World
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