Fri, Mar 20, 2026
Nebius closes ~$4.3 billion convertible senior notes offering
Key points
- Closed its private offering of convertible senior notes to qualified institutional buyers under Rule 144A, with aggregate gross proceeds of approximately $4.3 billion.
- Two series: $2.5875 billion of 1.250% convertible notes due 2031 and $1.75 billion of 2.625% convertible notes due 2033, for total aggregate original principal of $4.3375 billion to date.
- Initial purchaser exercised in full its option to purchase an additional $337.5 million of 2031 notes; an overallotment option for up to $262.5 million of additional 2033 notes remains, for settlement within 13 days from March 20, 2026.
- Net proceeds to fund data center construction and build-out, full-stack AI cloud development, footprint expansion, procurement of key components including GPUs, and general corporate purposes.