Snowflake plans $3.5 billion 0% convertible senior notes offering
SNOW•Snowflake plans a private placement of $3.5 billion in 0.00% convertible senior notes: $1.3 billion due October 15, 2029, and $2.2 billion due October 15, 2031. Initial purchasers may buy up to an additional $500 million in notes.
1. Offering details
Snowflake plans to use proceeds to fund capped call transactions, repurchase part of its 0.00% convertible senior notes due 2027, and for general corporate purposes. The unsecured notes pay no regular interest, and conversion may be settled in cash, shares, or a combination.
