Volozha's Nebius raised $4 billion through a bond issue. This is more than planned

Arkady Volozh's Nebius Group, a cloud provider, has raised $4 billion through the placement of convertible bonds, according to the company's statement, which is available to Oninvest. Thus, the company increased the volume of the deal - from the originally planned $3.75 billion. It needs the money to finance the construction of data centers.

The offering includes two tranches: $2.25 billion in convertible bonds due 2031 and $1.75 billion due 2033. The coupon rate on the securities is 1.25% for the 2031 issue and 2.625% for the 2033 issue, the release said. The issuance and sale of the bonds is expected to be completed on March 20.

On the background of the announcement of the deal, Nebius quotes on the eve of March 17, collapsed by 12% - investors are probably afraid of dilution of shares in case of conversion of bonds into shares, explains Barron's. At the premarket on March 18, the company's securities were cheaper by 0.1%.

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