Sea Limited Announces Proposed Offering of Convertible Notes
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: Business Wire
SINGAPORE--(BUSINESS WIRE)--Sea Limited (NYSE:SE) (“Sea” or the “Company”) today announced that it proposes to offer US$1 billion in aggregate principal amount of convertible senior notes due 2024 (the “Notes”), subject to market and other conditions. The interest rate, initial conversion rate, offering price and other terms of the Notes have not been finalized and will be determined at the time of pricing of the offering. Sea intends to grant to the initial purchaser a 13-day option to purchase up to an additional US$150 million principal amount of Notes. Sea plans to use a portion of the net proceeds from this offering to pay the cost of the capped call transactions described below, and to use the remainder of the net proceeds for business expansion and other general corporate purposes, including potential strategic investments and acquisitions.The Notes will be senior, unsecured obligations of the Company. The Notes will mature on December 1, 2024, unless redeemed, repurchased
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