Nebius prices $5 billion convertible notes offering

Nebius Group N.V. (NASDAQ:NBIS) has priced a $5 billion convertible senior notes offering, increasing from the previously announced size of $4.5 billion. The offering consists of $3.0 billion of 0.50% convertible notes due 2030 and $2.0 billion of 4.50% convertible notes due 2034. The notes are expected to settle on August 24, 2026, with initial conversion prices at approximately $313.46 per Class A share for the 2030 notes and $324.65 per Class A share for the 2034 notes, both representing significant premiums over the last reported sale price.

Nebius has granted initial purchasers an option to acquire an additional $450 million of 2030 notes and $300 million of 2034 notes within 13 days of issuance. The company plans to utilize the proceeds for business growth, including data center construction, AI cloud development, data center expansion, GPU procurement, and general corporate purposes.

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