Rivian Automotive Plans $1.3 Billion Green Convertible Senior Notes Offering
March 06 2023 - 6:25PM
Dow Jones News
By Stephen Nakrosis
Rivian Automotive, Inc. on Monday said it plans to offer green
convertible senior notes due in a private offering.
The maker of electric vehicles said it plans to use the net
proceeds from the offering for financing, refinancing or making
investments in eligible green projects as described in its green
financing framework. Such projects include clean transportation,
renewable energy, and pollution prevention and control, among
others.
Rivian said it intends to offer $1.3 billion aggregate principal
amount of green convertible senior notes due 2029. The notes will
be senior, unsecured obligations of Rivian, the company said.
The company also said it expects to grant initial purchasers an
option to purchase up to an additional $200 million principal
amount of notes.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 06, 2023 18:10 ET (23:10 GMT)
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