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Block, Inc. ("Block") (NYSE:SQ) today announced its intention to offer, subject to market conditions and other factors, approximately $1.5 billion aggregate principal amount of senior notes (the "Notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act") and outside the United States to non-U.S. persons pursuant to Regulation S under the Act.
The interest rate, redemption provisions, maturity date and other terms of the Notes will be determined by negotiations between Block and the initial purchasers.
Block intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of debt under its existing notes, potential acquisitions and strategic transactions, capital expenditures, investments and working capital.
Posted In: SQ
