share_log

IREN Upsizes Convertible Notes Offering To $400M With 3.25% Coupon And 30% Conversion Premium

Benzinga ·  Dec 4 19:00

Key details of the transaction

  • $400 million convertible senior notes offering (3.25% coupon, 30% conversion premium)
  • Offering size was increased from the previously announced offering size of $300 million aggregate principal amount of notes
  • Capped call transactions entered into in connection with the notes, which are expected generally to provide a hedge upon conversions up to an initial cap price of $25.86 per share, which represents a 100% premium (as compared to the 30% conversion premium under the notes)
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment