SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- Twitter, Inc.
(NYSE: TWTR) today announced the pricing of $1 billion aggregate principal amount of its
5.000% senior notes due 2030 (the "Notes"). 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 February 25, 2022, subject to the satisfaction of
customary closing conditions. Interest on the Notes will be payable
in cash semi-annually in arrears, beginning on September 1, 2022.
The Notes will mature on March 1,
2030, 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.
Prior to December 1, 2029, 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 December 1, 2029, 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, repurchases of Twitter's common
stock, 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.
Contacts
Investors:
ir@twitter.com
Press:
press@twitter.com
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SOURCE Twitter, Inc.