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.

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