Rivian Automotive Reveals Intention To Offer $1.50B Of Green Convertible Senior Notes Due 2030 In Private Offering
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive has announced its intention to offer $1.50B of green convertible senior notes due 2030 in a private offering. The proceeds will be used for general corporate purposes, including the development of electric vehicles and related technologies.
October 04, 2023 | 9:44 pm
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NEUTRAL IMPACT
Rivian's announcement of a $1.50B green convertible senior notes offering could impact its stock price. The funds will be used for corporate purposes, including EV development.
The announcement of a new debt offering can have mixed effects on a company's stock. On one hand, it could be seen as a positive sign that the company is investing in its growth, which could drive the stock price up. On the other hand, it increases the company's debt load, which could be a concern for some investors and potentially drive the stock price down. Given these opposing factors, the short-term impact on Rivian's stock is uncertain.
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