Snap Inc (SNAP): debt financing — Snap issues $1.5B 6.875% senior notes due 2033, repurchases ~$1.445B convertible notes

Snap Inc

$1.5B aggregate principal of 6.875% Senior Notes due 2033; net proceeds ~$1.473B after discounts and expenses.
Repurchased $45.3M of 0.75% 2026 notes, $797.4M of 0.00% 2027 notes, and $800.0M of 0.125% 2028 notes.
Aggregate repurchase price was ~$1.445B, funded substantially by the new note offering.
Revolver amended: $800M extended to Feb 2030, $250M stays at May 2027; new minimum liquidity covenant of $800M.
Interest on new notes at 6.875% payable semi-annually; first payment Sept 1, 2025.

item 1.01 item 8.01 item 2.03 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 0.9

Snap Inc amended revolving credit with JPMorgan Chase Bank, N.A., as administrative agent maturing February 12, 2030.

Instrument: revolving credit
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Maturity: February 12, 2030
Event: amendment

Exact text from the filing

extends the term of $800.0 million of the Revolving Credit Facility to February 12, 2030, with the remaining $250.0 million of the Revolving Credit Facility maturing on the existing maturity date of May 6, 2027.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Snap Inc incurred senior notes of $1,500.0 million at 6.875% per year maturing March 1, 2033.

Instrument: senior notes
Principal: $1,500.0 million
Rate: 6.875% per year
Maturity: March 1, 2033
Event: incurrence

Exact text from the filing

sale by us of an aggregate of $1,500.0 million principal amount of our 6.875% Senior Notes due 2033

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

Snap Inc filing history →

Source: SEC EDGAR

accession 0001193125-25-028741

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