Nebius (NBIS) Stock Slides 8% as Company Plans to Raise $4.5B in Debt
TLDR
- Nebius Group announced a $4.5 billion convertible senior notes offering via private placement
- NBIS stock fell over 8% in premarket trading following the announcement
- The offering is split into two series: $2.75B due 2030 and $1.75B due 2034
- Proceeds will fund data center construction, AI cloud development, and GPU procurement
- The company also plans to exchange some existing 2029 and 2031 notes for Class A ordinary shares
Nebius Group (NBIS) dropped more than 8% in premarket trading on Wednesday after the company announced plans to raise $4.5 billion through a convertible senior notes offering.
The offering will be split into two series. The first is $2.75 billion in convertible notes due February 15, 2030. The second is $1.75 billion in convertible notes due February 15, 2034.
Both series will be offered through a private placement to qualified institutional buyers only.
Nebius will also give initial purchasers an option to buy additional notes. That option covers up to $375 million of the 2030 notes and up to $300 million of the 2034 notes, exercisable within 13 days of issuance.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
