Cloud Firm Snowflake Seeks $2 Billion in Convertible Bonds
- Company’s issue has two tranches worth $1 billion each
- Shares have fallen 43% this year amid hacking incident
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Snowflake Inc. is seeking to raise $2 billion from the sale of convertible bonds.
The data analytics provider is offering two tranches of $1 billion each in a private placement, according to a statement Monday. Snowflake is marketing its convertible senior notes due 2027 and 2029 respectively with a coupon of 0% to 0.5% each, according to people familiar with the matter.