Snap (NYSE:SNAP) Thursday announced the pricing of $550 million aggregate principal amount of 6.875% senior notes due 2034.
The sale of the notes is expected to close on August 12.
The notes will bear interest at a rate of 6.875% per annum, payable semiannually in arrears on March 15 and September 15 of each year, beginning on March 15, 2026.
The notes will mature on March 15, 2034 unless earlier repurchased or redeemed.
Snap estimates that the net proceeds from the offering will be approximately $541.3 million.
