Snap Inc (SNAP): debt financing — Snap issues $550M 6.875% notes due 2034; repurchases ~$589.5M convertible notes

Snap Inc

Issued $550M principal of 6.875% Senior Notes due 2034, net proceeds ~$541.3M.
Repurchased $157.4M of 0.75% 2026 notes, $246.3M of 0% 2027 notes, and $185.8M of 0.125% 2028 notes for ~$550.1M cash.
Transactions settled Aug 12, 2025; proceeds from new notes plus cash used for repurchases.
Notes are senior unsecured, redeemable before Sept 15, 2028 with make-whole premium.

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 incurred senior notes of $550.0 million at 6.875% maturing March 15, 2034.

Instrument: senior notes
Principal: $550.0 million
Rate: 6.875%
Maturity: March 15, 2034
Event: incurrence

Exact text from the filing

On August 7, 2025, we entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several purchasers named therein (collectively, the “Initial Purchasers”), relating to the sale by us of an aggregate of $550.0 million principal amount of our 6.875% Senior Notes due 2034 (the “Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

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Snap Inc filing history →

Source: SEC EDGAR

accession 0001193125-25-179072

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