Group 1 - Iren Ltd. is seeking to raise $2 billion through two convertible bond issues, with $1 billion due in 2032 and another $1 billion due in 2033 [1] - The 6.5-year bond tranche is marketed with a coupon rate of 0% to 0.25%, while the 7.5-year issue has a coupon rate of 0.5% to 1% [1] - Both convertible bonds come with a conversion premium of 25% to 30% [3] Group 2 - Iren Ltd. is categorized as a neocloud, a small infrastructure provider addressing the high demand for AI computing capacity [2] - The company's shares fell by 6.4% to $45.38 in after-hours trading [2] - Iren is also conducting a private share offering and plans to repurchase some existing convertible bonds due in 2029 and 2030 [3] Group 3 - Citigroup Inc., Goldman Sachs Group Inc., and JPMorgan Chase & Co. are involved in the share sale and convertible bond issue [4]
AI Data Center Firm Iren Seeks $2 Billion in Convertible Bonds
MINT·2025-12-01 22:46