debt
confidence high
sentiment neutral
materiality 0.75
Galaxy Digital issues $1.3B of 0.50% exchangeable senior notes due 2031
Galaxy Digital Inc.
- $1.3B aggregate principal (including $150M full exercise of initial purchasers' option) at 0.50% interest, maturing May 1, 2031.
- Initial exchange rate 17.9352 shares per $1,000 (exchange price ~$55.76, ~37.5% premium over Oct 27 close of $40.55).
- Net proceeds to support growth across core businesses and for general corporate purposes, may include repaying existing 2026 notes.
- Notes are senior unsecured obligations; no redemption allowed before Nov 6, 2028, then callable if stock trades at 130% of exchange price.
- Settlement date Oct 30, 2025; registration rights agreement filed requiring shelf registration by Jan 31, 2026.