Nebius prices upsized USD 5 billion convertible senior notes offering

Nebius priced an upsized USD 5 billion private offering of convertible senior notes.

• The issuance is split into USD 3 billion of 0.5% convertible senior notes due 2030 and USD 2 billion of 4.5% convertible senior notes due 2034.
• Initial purchasers were granted an option to buy up to an additional USD 750 million of notes.
• Net proceeds are estimated at about USD 4.94 billion, rising to about USD 5.68 billion if the option is fully exercised.
• Proceeds are earmarked for data center build-out, AI cloud development, GPU procurement, and general corporate purposes.