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Market Overview

Spotify Seeks To Raise $1.3B From Private Senior Notes Offering

  • Spotify Technology SA (NYSE: SPOT) subsidiary, Spotify USA Inc., is offering $1.3 billion senior notes due 2026 in a private offering to institutional buyers.
  • Spotify USA expects to grant the initial purchasers an option to purchase up to an additional $200 million notes within 13 days.
  • The offer proceeds will be utilized for general corporate purposes.
  • Noteholders will have the right to exchange their notes in certain circumstances and during specified periods.
  • SPOT shares have gained 136% in last year.
  • Price action: SPOT shares are down 3.19% at $324 in the pre-market session on the last check Thursday.

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