SocialNewsBreaks – Snap Inc. (NYSE: SNAP) Issues $1.5 Billion in Senior Notes Due 2033

Snap (NYSE: SNAP) has announced the pricing of $1.5 billion in aggregate principal amount of 6.875% senior notes set to mature on March 1, 2033. The company plans to utilize approximately $1.445 billion of the net proceeds to repurchase outstanding convertible senior notes due between 2026 and 2028, with the remaining funds allocated for general corporate purposes. Additionally, Snap has amended its existing revolving credit facility, extending $800 million of the facility to February 12, 2030, while $250 million will mature on May 6, 2027.

As of 10:02 AM EST on February 19, 2025, Snap’s stock is trading at $10.81, reflecting a decrease of $0.23 (2.08%) from the previous close. Today’s trading range has been between $10.805 and $11.04, with an opening price of $10.92.

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About Snap Inc.

Snap Inc. is a technology company that operates Snapchat, a visual messaging application with various features such as Camera, Snap Map, Stories, and Spotlight, enabling users to communicate through short videos and images. The company also offers Spectacles, an eyewear product that connects with Snapchat to capture photos and videos from a human perspective, and provides advertising products including augmented reality ads and Snap ads. Founded in 2010, Snap Inc. is headquartered in Santa Monica, California.

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