IREN prices upsized $400 million convertible notes offering
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IREN Limited has announced the pricing of a $400 million convertible notes offering, with a 3.25% interest rate due in 2030. The offering is targeted at qualified institutional buyers under Rule 144A.
December 04, 2024 | 11:15 am
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IREN Limited has priced a $400 million convertible notes offering at 3.25% interest, due in 2030, aimed at institutional buyers.
The issuance of convertible notes can be seen as a positive move for IREN as it provides the company with capital. The 3.25% interest rate is relatively low, which may be favorable for the company's financials. The market may react positively to this news, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100