Bitcoin miner IREN completes issuance of $2.30 billion convertible senior notes
2025-12-09 14:31:10
Bitcoin miner IREN (IREN) completed a refinancing transaction consisting of a $2.30 billion issue of convertible senior notes and a $544.30 million repurchase of existing convertible bonds. The newly issued bonds include: a $1 billion 0.25% coupon note maturing in 2032; a $1 billion 1% coupon note maturing in 2033; and a $300 million overallotment exercised in full to meet additional demand. In addition, IREN executed a capped call transaction to hedge against potential equity dilution from the bond conversion and provide protection against the initial price of $82.24 per share. The notice states that, with the exception of the standard terms related to material changes, the note does not contain any investor rights to sell back.
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