Grab prices upsized $1.5B convertible notes offering

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Grab Holdings Limited announced Wednesday the pricing of an upsized offering of $1.5 billion aggregate principal amount of zero coupon convertible senior notes due 2030.

The firm said in a statement that offering was upsized from the previously announced offering of $1.25 billion aggregate principal amount of convertible senior notes due 2030.

Grab intends to use the net proceeds from the notes offering (i) for general corporate purposes, (ii) to optimize strategic flexibility, which may include potential acquisitions, while continuing to maintain a high bar for such transactions, (iii) for the Concurrent Repurchase (as described below), in relation to which it expects to fully utilize the $274 million authorized but unused amount under its $500 million share repurchase program announced in February 2024, and (iv) for any other share repurchases that may be authorized by its board of directors.

The notes will be senior, unsecured obligations of the company and not bear regular interest.

They will mature on June 15, 2030 unless redeemed, repurchased or converted prior to such date.

The initial conversion rate of the Notes is 152.6252 Class A Ordinary Shares of the Company, per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $6.55 per Class A Ordinary Share and represents a conversion premium of approximately 40 percent above the closing price of $4.68 per Class A ordinary share on NASDAQ on June 10, 2025.

 

 

#ConvertibleNotes #GrabFinance #CorporateStrategy #StartupFunding #InvestmentNews

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