Etsy, Inc. (ETSY), an e-commerce company, on Thursday announced the pricing of $650 million aggregate principal amount of 1.00% convertible senior notes due 2030. The sale is expected to close on June 16.
The company also gave the initial buyers of the notes a 13-day option, starting from the issue date, to buy up to an additional $50 million worth of notes, 2025.
The company plans to raise about $639.3 million through a convertible notes offering, with interest at 1% annually and maturity in 2030.
Around $150 million will be used to repurchase shares at $60.20 each, with the rest for general corporate use.
In the pre-market trading, Etsy is 0.33% lesser at $60 on the Nasdaq.
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