Upstart Holdings, Inc. (UPST), an artificial intelligence lending platform, Monday said it intends to privately offer $500 million of senior notes due 2032.
Upstart also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period, up to an additional $75 million of the notes.
Upstart intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions which the company plans to enter into with one or more of the initial purchasers or their respective affiliates and/or other financial institutions. The company also expects to use a part of the proceeds to repurchase for cash a portion of its outstanding 0.25% convertible senior notes due 2026. Remainder of the proceeds from the offering is expected to be used for general corporate purposes.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.