Nebius closes $5.75 billion convertible notes offering

Nebius Group has announced the closing of its previously announced private offering of convertible senior notes and related exchange transactions.

• The company closed the offering of 0.50% convertible notes due 2030 and 4.50% convertible notes due 2034, with the total aggregate original principal amount reaching $5.75 billion after full exercise of the initial purchasers’ options.
• Nebius also completed privately negotiated exchanges of $400 million of its 2029 Notes and $400 million of its 2031 Notes for about 15.8 million Class A ordinary shares; it said net proceeds will support data center construction, AI cloud development, data center footprint expansion, and GPU procurement.