Rivian Automotive, Inc. / DE (RIVN): debt financing — Rivian issues $1.5B green convertible notes at 4.625%, conversion price $20.13

Rivian Automotive, Inc. / DE

Initial purchasers fully exercised $200M option, raising total to $1.5B principal amount.
Notes mature March 15, 2029; semi-annual interest at 4.625% beginning Sep 15, 2023.
Conversion rate 49.6771 shares per $1,000 principal, ~37.5% premium over $14.64 close.
Net proceeds ~$1.484B (after discounts); allocated to eligible green projects per new framework.
Notes redeemable at Rivian's option after Mar 20, 2026 if stock exceeds 130% of conversion price.

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 0.98

Rivian Automotive, Inc. / DE incurred convertible notes of $1,500,000,000 with U.S. Bank Trust Company, National Association at 4.625% maturing March 15, 2029.

Instrument: convertible notes
Principal: $1,500,000,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.625%
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

On March 10, 2023, Rivian Automotive, Inc. (the “Company”) issued $1,500,000,000 principal amount of its 4.625% Green Convertible Senior Notes due 2029 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rivian Automotive, Inc. / DE entered into Indenture with U.S. Bank Trust Company, National Association valued at $1,500,000,000 principal amount (effective 2023-03-10).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $1,500,000,000 principal amount
Effective: 2023-03-10

Exact text from the filing

On March 10, 2023, Rivian Automotive, Inc. (the “Company”) issued $1,500,000,000 principal amount of its 4.625% Green Convertible Senior Notes due 2029 (the “Notes”). The Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of March 10, 2023, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).

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

Rivian Automotive, Inc. / DE filing history →

Source: SEC EDGAR

accession 0001193125-23-067573

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