Twitter Raises $1.8 Billion After Strong Demand for Notes

Twitter Raises $1.8 Billion After Strong Demand for Notes

Twitter has raised $1.8 billion in the convertible notes offering it announced last week, slightly more than the $1.5 billion we reported on Friday, after higher than anticipated demand.

In the official filing, Twitter states that $900 million has been raised in five-year notes due 2019 at an interest rate of 0.25 percent per year, and $900 million has been raised in seven-year notes due 2021 with a 1 percent annual interest rate.

Twitter Raises $1.8 Billion After Strong Demand for Notes

Interest is paid semi-annually in March and September, in arrears.

Alongside Twitter’s existing $1 billion revolving credit line, the new capital gives Twitter plenty of room for acquisitions and expansion – I wouldn’t be at all surprised if they pick up one or two interesting third parties later this year.