Fintech firm Block, formerly known as Square, announced plans to issue $1.5 billion in senior notes through a private placement to qualified institutional investors. The terms of the notes are subject to negotiation with initial purchasers, and the funds raised may be used for various purposes including debt repayment, acquisitions, investments, and working capital. Block is well positioned in the payments and consumer financial services sectors and has a strong balance sheet. The company has also made significant investments in Bitcoin and plans to allocate a portion of its gross profit towards further Bitcoin purchases.
Keyword: Block, private placement, senior notes, capital raising, Fitch Ratings, Bitcoin, financials
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Last edited on: May 7, 2024 at 06:47 pm