Robinhood Seeks $2 Billion in 0% Convertible Bonds for Buyback and Hedging
Updated
Updated · Bloomberg · Jun 22
Robinhood Seeks $2 Billion in 0% Convertible Bonds for Buyback and Hedging
2 articles · Updated · Bloomberg · Jun 22
Summary
$2 billion is the target of Robinhood Markets' planned convertible bond sale, with proceeds earmarked for share buybacks and hedging.
The notes are due in 2029, carry a 0% fixed coupon and are being marketed with a 60% to 65% conversion premium, according to deal terms seen by Bloomberg News.
The offering is expected to price Monday after the New York market closes, placing Robinhood into an active market for companies raising cash through convertible debt.