Square, Inc. Announces Pricing of $2.0 Billion Offering of Senior Notes
19 5월 2021 - 8:25AM
Business Wire
Square, Inc. (“Square”) (NYSE:SQ) today announced the pricing of
$1,000,000,000 principal amount of its 2.75% senior notes due 2026
(the “2026 Notes”) and $1,000,000,000 principal amount of its 3.50%
senior notes due 2031 (the “2031 Notes” and, together, the “Notes”)
in a private placement to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Act”) and outside the
United States to non-U.S. persons pursuant to Regulation S under
the Act. The sale of the Notes is expected to settle on May 20,
2021, subject to customary closing conditions. Interest on each
series of the Notes will be payable in cash semi-annually in
arrears, beginning on December 1, 2021.
The 2026 Notes will mature on June 1, 2026, and the 2031 Notes
will mature on June 1, 2031, in each case unless earlier
repurchased or redeemed. Holders of each series of the Notes may
require Square to repurchase such 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.
Square may redeem either series of 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 May 1, 2026, in the case of the 2026 Notes, and on and
after March 1, 2031, in the case of the 2031 Notes, Square may
redeem the Notes of the applicable series at 100% of the principal
amount plus accrued and unpaid interest, if any.
Square intends to use the net proceeds from this offering for
general corporate purposes, which may include potential
acquisitions and strategic transactions, capital expenditures,
investments and working capital.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy the Notes and shall not constitute an offer,
solicitation, or sale in any jurisdiction in which such offer,
solicitation, or sale is unlawful. The Notes have not been, and
will not be, registered under the Act or the securities laws of any
other jurisdiction, and unless so registered, may not be offered or
sold in the United States except pursuant to an applicable
exemption from the registration requirements of the Act and
applicable state laws.
About Square, Inc.
Square, Inc. (NYSE: SQ) builds tools to empower businesses and
individuals to participate in the economy. Sellers use Square to
reach buyers online and in person, manage their business, and
access financing. Individuals use Cash App to spend, send, store,
and invest money. And TIDAL is a global music and entertainment
platform that expands Square's purpose of economic empowerment to
artists. Square, Inc. has offices in the United States, Canada,
Japan, Australia, Ireland, Spain, Norway, and the UK.
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version on businesswire.com: https://www.businesswire.com/news/home/20210518006218/en/
Media Contact: press@squareup.com or Investor
Relations Contact: ir@squareup.com
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