IREN prices upsized $500 million convertible notes offering

Key Takeaways:

• IREN Limited announced the pricing of a $500 million convertible notes offering.
• The notes carry an interest rate of 3.50% and are due in 2029.
• The offering is a private placement to qualified institutional buyers.
• It is conducted under Rule 144A of the Securities Act of 1933.
• The announcement was made on June 11, 2025, in Sydney.

IREN Limited Details $500 Million Convertible Notes Offering

IREN Limited (NASDAQ: IREN), ACN 629 842 799, has announced the pricing of its offering of $500 million aggregate principal amount of 3.50% convertible senior notes due 2029. The announcement was made on June 11, 2025, in Sydney.

Terms of the Offering

The convertible senior notes will bear interest at a rate of 3.50% per annum and are set to mature in 2029. Convertible notes are a type of debt security that can be converted into a predetermined number of the issuer’s common shares, providing investors with potential equity participation in the future.

Private Placement to Qualified Institutional Buyers

The offering is being conducted as a private placement to persons reasonably believed to be qualified institutional buyers. This process is carried out pursuant to Rule 144A under the Securities Act of 1933, which allows for the sale of securities to institutional investors without the requirement for public registration.

Regulatory Compliance

By utilizing Rule 144A, IREN Limited adheres to regulatory standards while efficiently accessing capital markets. This rule facilitates faster transactions by permitting the resale of restricted securities to qualified institutional buyers.

About IREN Limited

While the announcement provides limited details about the company’s operations, IREN Limited’s listing on the NASDAQ exchange under the ticker symbol IREN indicates its participation in the public markets and commitment to regulatory compliance.

Conclusion

The pricing of the $500 million convertible senior notes due 2029 marks a significant development for IREN Limited. The company’s strategic move to raise capital through a private offering positions it within the framework of established financial regulations, targeting institutional investors for its fundraising efforts.