IREN closes $2.3B convertible notes offering, repurchases $544.3M existing notes

IREN Ltd

Issued $1.15B 0.25% notes (2032) and $1.15B 1.00% notes (2033); greenshoe fully exercised.
Repurchased $227.7M of 3.25% 2030 notes and $316.6M of 3.50% 2029 notes for ~$1.632B total.
Funded via registered direct offering of 39,699,102 shares at $41.12/share, raising net ~$2.27B.
Capped call transactions cost $201M, cap price $82.24/share (100% premium over $41.12).
Net proceeds of ~$2.068B for general corporate purposes after repurchases and fees.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

IREN Ltd incurred convertible notes of $1.15 billion and $1.15 billion (plus $150 million and $150 million from full exercise of option) with initial purchasers at 0.25% per annum for 2032 Notes; 1.00% per annum for 2033 Notes maturing June 1, 2032 for 2032 Notes; June 1, 2033 for 2033 Notes.

Instrument: convertible notes
Principal: $1.15 billion and $1.15 billion (plus $150 million and $150 million from full exercise of option)
Counterparty: initial purchasers
Rate: 0.25% per annum for 2032 Notes; 1.00% per annum for 2033 Notes
Maturity: June 1, 2032 for 2032 Notes; June 1, 2033 for 2033 Notes
Event: incurrence

Exact text from the filing

On December 8, 2025 (the “Closing Date”), IREN Limited (the “Company”) issued $1.15 billion aggregate principal amount of its 0.25% convertible senior notes due 2032 (the “2032 Notes”) and $1.15 billion aggregate principal amount of its 1.00% convertible senior notes due 2033 (the “2033 Notes” and, together with the 2032 Notes, the “Notes,” and the offering of such Notes, the “Notes Offering”).

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311 debt financings filed in the last 30 days. Browse all debt financings →

IREN Ltd filing history →

Source: SEC EDGAR

accession 0001140361-25-044888

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