MicroStrategy issues $875 million in convertible senior notes, intends to use part of the proceeds to purchase Bitcoin

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MarsBit
09-18
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According to Mars Finance, MicroStrategy announced the issuance of convertible senior notes with a total principal amount of US$875 million, due in 2028 and an interest rate of 0.625%. The issuance is expected to end on September 19, 2024. MicroStrategy intends to use the net proceeds from this issuance to redeem the entire outstanding principal amount of US$500 million of MicroStrategy's 6.125% Senior Secured Notes due in 2028 (Senior Secured Notes), and use the balance of the net proceeds to purchase additional Bitcoin and for general corporate purposes.

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