IREN Limited announced its intention to offer $2 billion in aggregate principal amount of convertible senior notes due 2033 in a private offering to qualified institutional buyers. The offering also includes an option for the initial purchasers to acquire up to an additional $300 million in notes.
Key Details
- Offering Size: $2 billion in senior convertible notes, with an option for purchasers to buy an additional $300 million within a 13-day period.
- Note Terms: The notes are senior, unsecured obligations maturing on December 1, 2033. Terms such as interest rate and conversion rate will be determined at pricing.
- Use of Proceeds: A portion of the proceeds will fund capped call transactions intended to reduce potential share dilution, with the remainder for general corporate purposes and working capital.