IREN announces $2B convertible notes offering and equity offering to repurchase existing notes

IREN Ltd

IREN plans $1B convertible notes due 2032 and $1B due 2033, with options for additional $150M each.
Concurrent registered direct equity offering (size tied to repurchase amount) to fund repurchase of existing 3.25% 2030 and 3.50% 2029 convertible notes.
Net proceeds will fund capped call transactions, repurchase of existing notes, and general corporate purposes.
Each offering is not contingent on the others; completion subject to market conditions and no assurance given.
Placement agents for equity offering: Citigroup, Goldman Sachs, and J.P. Morgan.

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