IREN Plans To Offer $875 Mln Of Convertible Senior Notes Due 2031

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(RTTNews) - IREN Limited (IREN) announced that it plans to offer $875 million aggregate principal amount of convertible senior notes due 2031 in a private offering.

IREN also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $125 million principal amount of notes.

IREN intends to use a portion of the net proceeds from the offering to fund the cost of entering into the capped call transactions. It intends to use the remainder of the net proceeds for general corporate purposes and working capital. If the initial purchasers exercise their option to purchase additional notes, IREN intends to use a portion of the additional net proceeds to fund the cost of entering into additional capped call transactions.