The company said it priced its convertible senior notes due 2029 with a total principal amount of $1.5 billion on February 22, 2024. The notes are being sold to qualified institutional buyers under Rule 144A.

1. 01

   The company said it priced its convertible senior notes due 2029 with a total principal amount of $1.5 billion on February 22, 2024. The notes are being sold to qualified institutional buyers under Rule 144A.

2. 02

   The company said the notes have an initial conversion rate of $1,000 shares of common stock per 0.7455 share, equal to an initial conversion price of about $1,341.38, a conversion premium of about 37.5% over the closing price of $975.52 on February 22, 2024. The notes will not bear regular interest.

3. 03

   The company said it granted the initial purchasers an 13-day option to buy up to an additional $225.0 million of the notes. The notes mature on March 1, 2029, and holders may convert them regardless of conditions on and after September 1, 2028.

4. 04

   The company said it expects net proceeds of about $1.47 billion from the offering, or about $1.70 billion if the initial purchasers exercise their option in full. It said it expects to use $123.6 million of the net proceeds to pay for the capped call transactions and intends to use the rest for general corporate purposes, including working capital.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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