MicroStrategy Incorporated : to sell $500 mln of bonds to buy bitcoins
June 08, 2021 at 05:27 pm EDT
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June 8 (Reuters) - MicroStrategy Inc, a major
bitcoin corporate backer, said on Tuesday it was offering $500
million in bonds and the proceeds will be used to buy bitcoins
.
This comes a day after the world's largest publicly-traded
business intelligence company said it planned to raise $400
million through senior secured notes due 2028 in a private
offering.
The company spent the last year steadily amassing more
bitcoin after making its first investment in August as the
cryptocurrency soared in value. It has since made multiple
purchases of the digital currency.
The senior secured notes offering, expected to close on June
14, will bear an annual interest rate of 6.125%, the company
said.
Bloomberg News first reported https://www.bloomberg.com/news/articles/2021-06-08/microstrategy-boosts-bitcoin-linked-junk-bond-to-500-million?utm_source=google&utm_medium=bd&cmpId=google&sref=WJKVI5nK
the news of MicroStrategy's increased size of bond sale earlier
in the day, citing a person familiar with the matter.
(Reporting by Akanksha Rana and Eva Mathews in Bengaluru;
Editing by Shailesh Kuber and Shinjini Ganguli)
MicroStrategy Incorporated is a bitcoin development company. It is engaged in the development of the bitcoin network through its activities in the financial markets, advocacy and technology. It designs, develops, markets and sales its software platform through licensing arrangements and cloud subscriptions and related services. It provides artificial intelligence-powered business intelligence, and enterprise analytics solutions. It offers software and services designed to turn complex, chaotic data environments into rich, reliable, and convenient information feeds for its customers. Its cloud-native flagship, MicroStrategy ONE, powers some of the analytics deployments in the world for customers spanning a range of industries, including retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications and the public sector. MicroStrategy ONE provides non-technical users with the ability to directly access novel and actionable insights for decision-making.