Grab prices upsized $1.5B convertible notes offering

0
2K

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

Sponsored
Search
Sponsored
Categories
Read More
Food
Apple Dutch Baby Pancake
This recipe for Apple Dutch Baby Pancake is easy to make in a cast iron pan, but be ready to eat...
By Recipes 2025-02-06 13:35:05 0 11K
Food
Banana Chocolate Chunk Ice Cream
This Banana Chocolate Chunk Ice Cream is my version of Ben & Jerry's® Chunky Monkey®...
By Recipes 2025-02-10 18:00:59 0 8K
Shopping
Singapore’s AnyMind completes acquisition of e-gifting company AnyReach
AnyMind Group, a business process as a service (BPaaS) company for marketing, e-commerce and...
By Ifvex 2025-04-01 06:30:38 0 6K
Networking
Malaysia’s Capital A on track to complete restructuring plan by June amid strong operational momentum
Malaysia-based Capital A Berhad has reaffirmed its confidence in completing its proposed...
By Ifvex 2025-05-03 12:49:22 0 4K
Networking
Zoho forges strategic partnership with Cradle to empower Malaysia’s startup ecosystem
Zoho Corporation, an India-based technology company, has announced a strategic partnership with...
By Ifvex 2025-04-26 05:21:31 0 4K
Ifvex https://ifvex.com