Morgan Stanley Remains Sidelined on Square (SQ) Following Announced $750M Debt Offering
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Square, Inc. Announces $750 Million Convertible Notes Offering
May 21, 2018 4:21 PM EDTSAN FRANCISCO--(BUSINESS WIRE)-- Square, Inc. (Square) (NYSE: SQ) today announced its intention to offer, subject to market conditions and other factors, $750 million aggregate principal amount of convertible senior notes due in 2023 (the Notes) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Act). Square also expects to grant the initial purchaser of the Notes a 30-day option to purchase up to an additional $112.5 million aggregate principal amount of the Notes solely to cover over-allotments, if any.
The Notes will be senior, unsecured obligations... More
