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Sea Limited Prices Offering Of Convertible Notes - Quick Facts

Sea Limited (SE) announced the pricing of its offering of $1 billion in aggregate principal amount of convertible senior notes due 2024. The Notes will be senior, unsecured obligations of the company, bearing interest at a rate of 1.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2020. The Notes will mature on December 1, 2024. On or after December 2, 2022, the company may redeem for cash all or any part of the Notes.

Also, in connection with the pricing of the notes, the company has entered into capped call transactions with the option counterparties. The cap price of the capped call transactions will initially be $70.36 per ADS.

The company expects to close the Notes offering on or about November 18, 2019.

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