Twitter, Inc. Announces Proposed $1 Billion Senior Notes Offering

Rhea-AI Summary

Twitter, Inc. (NYSE: TWTR) announced a proposed offering of $1 billion in senior notes due 2030, targeting qualified institutional buyers. The notes will have semi-annual interest payments, with specific rates to be determined through initial negotiations. Proceeds will support general corporate purposes, including potential debt repayment, stock repurchases, and strategic acquisitions. Currently, there are no agreements for significant acquisitions. Note offerings will not be registered under the Securities Act and are subject to market conditions.

Positive

• Proceeds of $1 billion could strengthen Twitter's financial position.
• Funds may support stock repurchases, enhancing shareholder value.

Negative

• No current agreements for material strategic transactions or acquisitions.

SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced its intention to offer, subject to market conditions and other factors, $1 billion aggregate principal amount of senior notes due 2030 (the "notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act").

The notes will be senior obligations of Twitter, and interest will be payable semi-annually in arrears. The interest rate and other terms of the notes are to be determined through negotiations between Twitter and the initial purchasers.

Twitter intends to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, investments, repayment of debt, repurchases of Twitter's common stock, working capital and potential acquisitions and strategic transactions. From time to time Twitter evaluates potential strategic transactions and acquisitions of businesses, technologies or products. Currently, however, Twitter does not have any agreements with respect to any such material strategic transactions or acquisitions.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful. The notes have not been and will not be registered under the Act or the securities laws of any jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

Contacts

Investors:
ir@twitter.com

Press:
press@twitter.com

View original content:https://www.prnewswire.com/news-releases/twitter-inc-announces-proposed-1-billion-senior-notes-offering-301488578.html

SOURCE Twitter, Inc.

FAQ

What is the amount of senior notes Twitter is offering?

Twitter is proposing a $1 billion offering of senior notes due 2030.

What will Twitter use the proceeds from the notes for?

The proceeds will be used for general corporate purposes including debt repayment and potential acquisitions.

When are the notes due?

The senior notes are due in 2030.

What is the keyword for Twitter's stock symbol?

The stock symbol for Twitter is TWTR.

Are the senior notes registered under the Securities Act?

No, the notes have not been and will not be registered under the Securities Act.