The company said it plans to offer $1.25 billion of convertible senior notes due June 15, 2028 in a private offering under Rule 144A to qualified institutional buyers, dated May 20, 2025. The company said it expects to grant the initial purchasers an option to buy up to an additional $200 million of notes, for settlement within 13 days of the date the notes are first issued.

1. 01

   The company said it plans to offer $1.25 billion of convertible senior notes due June 15, 2028 in a private offering under Rule 144A to qualified institutional buyers, dated May 20, 2025. The company said it expects to grant the initial purchasers an option to buy up to an additional $200 million of notes, for settlement within 13 days of the date the notes are first issued.

2. 02

   The company said the convertible notes will be senior, unsecured obligations, pay interest semiannually and mature on June 15, 2028. It said the final conversion price, interest rate and other terms will be set at pricing.

3. 03

   The company said the notes will be convertible only upon certain events and during certain periods before March 15, 2028. After that date, it said they will be convertible at any time until the close of business on the second scheduled trading day before maturity. It said that upon conversion, it will pay cash up to the principal amount being converted, and will pay or deliver cash, shares of its common stock, or a combination at its election for any excess conversion obligation.

4. 04

   The company said it intends to use part of the net proceeds to repurchase a portion of its Series 2023A 3.875% and Series 2024A 4.50% existing convertible senior notes in individually negotiated transactions. It said it plans to use the remaining proceeds to repay outstanding commercial paper borrowings and for other general corporate purposes, and that no assurance can be given on the size or terms of the repurchases.

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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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