StoneCo Ltd. Announces the Issuance of its Inaugural Bond

Rhea-AI Summary

StoneCo Ltd. (Nasdaq: STNE) has successfully issued its inaugural dollar bond, raising USD 500 million in 7-year notes with a yield of 3.95%. The company plans to utilize the proceeds for general corporate purposes, including investment in Banco Inter, business expansion, and refinancing corporate debt. The offering was oversubscribed, reflecting Stone's strong market demand and ability to access diverse funding sources to support growth.

Positive

• Raised USD 500 million through inaugural dollar bond issuance.
• 7-year notes sold with a yield of 3.95%.
• Multiple times oversubscribed order book indicates strong market demand.
• Proceeds will be used for growth and refinancing corporate indebtedness.

Negative

• None.

GEORGE TOWN, Grand Cayman, June 11, 2021 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, today announces that it has successfully issued its inaugural dollar bond, raising USD500 million in 7-year notes with a final yield of 3.95%. The company intends to use the proceeds for general corporate purposes, which may include financing the investment in Banco Inter, the growth of the business and the refinancing of certain corporate indebtedness. The orderbook was multiple times oversubscribed and evidences the company’s ability to access multiple funding sources to support its growth.

About Stone

Stone is a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.

Contact: 

Investor Relations

investors@stone.co 

FAQ

What did StoneCo announce on June 11, 2021?

StoneCo announced the issuance of its inaugural dollar bond, raising USD 500 million.

What is the yield of the 7-year notes issued by StoneCo?

The 7-year notes were issued with a yield of 3.95%.

How will StoneCo use the proceeds from the bond issuance?

The proceeds will be used for general corporate purposes, including investment in Banco Inter, business growth, and refinancing debt.

Was the bond offering successful for StoneCo?

Yes, the order book was multiple times oversubscribed, indicating strong demand.

What is the ticker symbol for StoneCo?

The ticker symbol for StoneCo is STNE.