Nebius Group Completes $5.75 Billion Convertible Notes Offering

Nebius Group N.V., a NASDAQ-listed AI cloud company, announced the successful closure of its private offering of convertible senior notes, amassing $5.75 billion. The notes, available to qualified institutional buyers, are split into 0.50% convertible notes due 2030 and 4.50% convertible notes due 2034. Initial purchasers opted for additional principal amounts, enhancing the aggregate to $3.45 billion for 2030 Notes and $2.3 billion for 2034 Notes.

Simultaneously, Nebius entered exchange agreements for $800 million with holders of its existing 2029 and 2031 Notes, trading them for 15.8 million Class A ordinary shares. This transaction could influence market prices of the Class A shares. The raised funds will bolster business growth, data center expansion, and AI cloud development.

The offering’s terms are in Nebius's SEC Form 6-K. The notes haven't been registered under the Securities Act, limiting their sale unless exempt from registration requirements.