Nebius Group N.V. closed a private offering of convertible senior notes for $5.75 billion in gross proceeds. The company upsized the deal from an initial $4.5 billion following strong investor demand. Purchasers fully exercised their options to buy additional notes.
The offering includes $3.45 billion of notes due 2030 with a 0.50% coupon. A second series consists of $2.3 billion in notes due 2034 with a 4.50% coupon. Nebius will use the net proceeds to accelerate its operational expansion.
Investment targets include data center construction and the development of a full-stack AI cloud platform. The company will also use funds to procure essential components such as GPUs. Separately, Nebius exchanged $800 million of existing convertible notes for approximately 15.8 million Class A ordinary shares.