Twitter Inc. TWTR, +3.31% 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 SPX, -0.48% has gained 22%.
View Article Origin Here
