Robinhood Markets proposes $2B convertible senior notes due 2029
Robinhood Markets plans to offer $2 billion in aggregate principal amount of convertible senior notes due 2029 in a private placement. Initial purchasers will receive a 13-day option to purchase an additional $200 million of notes.
Robinhood Markets is offering $2 billion in aggregate principal amount of convertible senior notes due 2029 in a private placement. The retail brokerage platform has granted initial purchasers a 13-day option to purchase up to an additional $200 million of notes.
The offering involves Robinhood Markets (HOOD) as the issuer, with initial purchasers receiving the option to expand the deal size by 10 percent through the greenshoe provision. The convertible senior notes carry a 2029 maturity date, establishing a six-year tenor from the anticipated closing.
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