Cloudflare plans to issue $2.175 billion in convertible senior notes

Odaily Planet Daily News Technology cloud services company Cloudflare plans to issue $2.175 billion in convertible senior notes through a private placement, including $1.5 billion in principal of convertible notes due 2031, and an additional $750 million in principal subject to an over-allotment option. The notes will be unsecured obligations convertible into Cloudflare common stock, with interest rates, conversion prices, and other terms to be determined at the pricing stage of the offering. The proceeds will be used for general corporate purposes. (Bloomberg)