Spotify Seeks To Raise $1.3B From Private Senior Notes Offering

Spotify Technology SA (NYSE: SPOT) subsidiary, Spotify USA Inc., is offering $1.3 billion senior notes due 2026 in a private offering to institutional buyers.
Spotify USA expects to grant the initial purchasers an option to purchase up to an additional $200 million notes within 13 days.
The offer proceeds will be utilized for general corporate purposes.
Noteholders will have the right to exchange their notes in certain circumstances and during specified periods.
SPOT shares have gained 136% in last year.
Price action: SPOT shares are down 3.19% at $324 in the pre-market session on the last check Thursday.