Akamai Prices Upsized Offering of $1.1B Convertible Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Akamai Technologies has priced its private offering of $1.1 billion in convertible senior notes due 2029. The offering was upsized from the previously announced $1 billion. The notes will be sold to qualified institutional buyers and the sale is expected to close on August 18, 2023.
August 16, 2023 | 7:38 am
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POSITIVE IMPACT
Akamai's upsized offering of convertible senior notes could potentially attract more institutional investors, which may have a positive impact on its stock price.
The upsizing of Akamai's offering indicates a potential increase in demand for its notes. This could attract more institutional investors, which often leads to a positive impact on the stock price. However, the actual impact will depend on the market's reaction to the news.
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