Snowflake prices $3.75 billion zero-coupon convertible senior notes offering
SNOW•Snowflake priced a $3.75 billion private placement of zero-coupon convertible senior notes, split between $2 billion due 2029 and $1.75 billion due 2031. The company expects about $3.7 billion in net proceeds, with closing expected Oct. 1, 2026.
1. Offering details
Snowflake priced an upsized private placement of 0.00% convertible senior notes: $2 billion due 2029 and $1.75 billion due 2031. Initial purchasers received 13-day options to buy up to $550 million in additional notes. Snowflake expects about $3.7 billion in net proceeds and plans to use them for capped calls, partial repurchases of its 2027 notes and general corporate purposes; closing is expected Oct. 1, 2026.
