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March 1, 2021, 7:12 a.m. EST

Twitter to offer $1.25 billion of convertible bonds

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By Ciara Linnane

Twitter Inc. /zigman2/quotes/203180645/composite TWTR -2.22% announced a $1.25 billion convertible bond offering in a private placement Monday, with the proceeds to be used to pay any sums due on its 1.00% convertible senior notes due 2021 and for general corporate purposes. The social media site said it will entered hedge transactions to limit dilution upon conversion. The interest rate, initial conversion rate and other terms will be determined upon pricing. Twitter shares were up 0.7% premarket, and have gained 132% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% has gained 22%.

/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 70.12
-1.59 -2.22%
Volume: 9.43M
April 16, 2021 4:02p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$57.27 billion
Rev. per Employee
$675,700
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/zigman2/quotes/210599714/realtime
US : S&P US
4,185.47
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p
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