Twitter offers $1B in senior notes, Facebook Reels now available to more creators and other notable stories from this week
Welcome to “#SocialStocks,” The Fly’s weekly recap of Wall Street’s reactions to social media stock news.
TWITTER OFFERING: Twitter (TWTR) announced its intention to offer, subject to market conditions and other factors, $1B aggregate principal amount of senior notes due 2030 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be senior obligations of Twitter, and interest will be payable semi-annually in arrears. The interest rate and other terms of the notes are to be determined through negotiations between Twitter and the initial purchasers. Twitter intends to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, investments, repayment of debt, repurchases of Twitter’s common stock, working capital and potential acquisitions and strategic transactions. From time to time Twitter evaluates potential strategic transactions and acquisitions of businesses, technologies or products. Currently, however, Twitter does not have any agreements with respect to any such material strategic transactions or acquisitions.
To see the rest of the story Click Here.