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

According to Techub News, MicroStrategy announced the issuance of convertible senior notes with a total amount of US$875 million and due on September 15, 2028. The issuance is expected to be completed on September 19. These notes are MicroStrategy's unsecured senior debt with an interest rate of 0.625% per year, payable semi-annually on March 15 and September 15 each year starting from March 15, 2025. MicroStrategy intends to use the net proceeds from this issuance to redeem the company's entire outstanding principal amount of US$500 million of 6.125% senior secured notes due in 2028, and the remainder of the net proceeds will be used to purchase Bitcoin and for general corporate purposes.