SAN FRANCISCO, Dec. 5, 2019 /PRNewswire/ -- Twitter, Inc.
(NYSE: TWTR) today announced the pricing of $700 million aggregate principal amount of its
3.875% senior notes due 2027 (the "Notes"). The offering of the
Notes was upsized from an originally announced aggregate principal
amount of $600 million. The Notes are
being offered to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act"), and outside
the United States to non-U.S.
persons pursuant to Regulation S under the Securities Act. The sale
of the Notes is expected to close on December 9, 2019, subject to the satisfaction of
customary closing conditions. Interest on the Notes will be payable
in cash semi-annually in arrears, beginning on June 15, 2020.
The Notes will mature on December 15,
2027, unless earlier repurchased or redeemed. Holders of the
Notes may require Twitter to repurchase the Notes upon the
occurrence of certain change of control events at a purchase price
equal to 101% of the principal amount thereof plus accrued and
unpaid interest, if any.
Twitter may redeem the Notes, in whole or in part, at a price
equal to 100% of the principal amount thereof plus a "make-whole"
premium and accrued and unpaid interest, if any. On and after
September 15, 2027, Twitter may
redeem the Notes at 100% of the principal amount plus accrued and
unpaid interest, if any.
Twitter intends to use the net proceeds from this offering for
general corporate purposes, which may include capital expenditures,
investments, repayment of debt, working capital and potential
acquisitions and strategic transactions. From time to time Twitter
evaluates potential strategic transactions and acquisitions of
businesses, technologies or products. Currently, however, Twitter
does not have any agreements with respect to any such material
strategic transactions or acquisitions.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
offer, solicitation or sale in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful. The Notes
have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from such registration requirements.
Press:
Giovanna Falbo
press@twitter.com
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SOURCE Twitter, Inc.