Airbnb Seeks to Raise $2 Billion From Convertible Notes Issue
It's capital raising time for DIY accommodation king Airbnb (NASDAQ: ABNB). The company announced Tuesday that it intends to float $2 billion worth of convertible senior notes to help shore up its finances. The issue will be made in a private offering to qualified institutional investors.
The company has not yet determined the interest rate for the notes; it said this will be done when the securities are priced. It also revealed that they will accrue interest payable semiannually and will mature on March 15, 2026, if held that long. They will be convertible into shares of Airbnb's Class A common stock and/or cash, at its discretion. It did not provide any conversion rates or parameters.
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Source Fool.com
