Snap Inc, developer of Snapchat plans to issue $1 billion in debt securities

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Snap Inc, which developed Snapchat, a photo- messaging app, has planned to issue $1 billion in debt securities for the purposes of working capital and potential acquisitions, cited yourstory.

The company intends to use the debt funding of $1 billion for general corporate purposes, including working capital, operating expenses, capital expenditures. 

While, the company said that it will raise the money by offering $1 billion in convertible senior notes that will mature in 2026. At that point, it will pay investors in cash, stock or a combination of both.

The interest rate, initial conversion rate, and other terms of the notes will be determined at the time of pricing of the offering. It also intends to grant the initial purchasers of the debt securities an option to purchase up to an additional $150 million principal amount of notes.

Snap Inc. was founded by Evan Spiegel and Bobby Murphy in 2011. It is an American technology and camera company, based out of California. The company claims that its products empower people to express themselves, live in the moment, learn about the world, and have fun together.

“Snap may also use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies or for repurchases of Snap’s common stock, although it has no commitments for any material acquisitions or stock repurchases at this time,” the company stated.

Some of the well-known messaging application under the similar domain includes Facebook, Instagram, twitter, Pinterest, youtube, Linkdln, and many more.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Pawar, Thackeray, Raut in midnight rendezvous

Mumbai, Nov 22 (IANS) Inching towards forming the Maharashtra government, Nationalist Congress Party (NCP) President Sharad Pawar had a...

165 in fray for Karnataka assembly by-elections

Bengaluru, Nov 21 (IANS) A total of 165 candidates, including 126 Independents and 9 women, are in the fray for the 15 Assembly by-elections...

Anand eyes London through Tata Steel Chess tournament

Kolkata, Nov 21 (IANS) Five-time world champion Viswanathan Anand will have his eyes on London when he begins his campaign in the Tata Steel...

Several big names from Delhi in race for Goa DGP

New Delhi, Nov 21 (IANS) After the death of 1988 batch AGMUT cadre IPS officer Pranav Nanda, several big names from the IPS lobby...

Mamata nod to ministers’ public outbursts against me: Guv

Kolkata, Nov 21 (IANS) Facing a barrage of verbal counter-attacks from West Bengal ministers, Governor Jagdeep Dhankhar on Thursday targeted Chief Minister Mamata Baenrjee,...
- Advertisement -

More Articles Like This