On June 11, 2018, Twitter issued $1.15 billion in aggregate principal amount of its 0.25 percent convertible senior notes due 2024 in a private placement to qualified institutional buyers. The amount reflects the exercise in full of the initial purchasers' option to purchase an additional $150 million in aggregate principal amount of notes to cover over-allotments. Wilson Sonsini Goodrich & Rosati represented Twitter in the offering.
In connection with the pricing of the notes and the exercise of the initial purchasers' over-allotment option, Twitter entered into privately negotiated convertible note hedge transactions with one or more of the initial purchasers and/or their respective affiliates or other financial institutions.
The Wilson Sonsini team representing Twitter in the offering includes partners Katie Martin, Lisa Stimmell, Michael Occhiolini, and Erik Franks; and associates Michael Rosati, Melissa Rick, and Gordon Grafft. Partner Myra Sutanto Shen advised Twitter on tax matters.
For more information, please see Twitter's press release.