IREN Limited (NASDAQ: IREN) announced the closing of a $2.3 billion convertible notes offering and the repurchase of existing convertible notes.
The offering included $1.0 billion of 0.25% convertible senior notes due 2032 and $1.0 billion of 1.00% convertible senior notes due 2033.
The transactions were funded through various sources including the registered direct placement of ordinary shares.
Offering Details
$2.3 billion convertible senior notes offered, including 0.25% notes due 2032 and 1.00% notes due 2033.
Repurchase Amount
Approximately $544.3 million in existing convertible notes repurchased.
Fundraising
Net proceeds of about $2.27 billion raised through the combined transactions.
Investment Banks Involved
Citigroup, Goldman Sachs, J.P. Morgan, and others acted as bookrunners in the offering.
- The transactions will reduce the outstanding debt under existing convertible notes.
- The repurchase of convertible notes will lead to a lower average annualized cash coupon for IREN.
IREN successfully closed its convertible notes offering and repurchase transactions, aligning with its financial strategy to manage debt and extend maturities. The actions demonstrate the company's proactive approach to optimizing its capital structure.