Twitter to raise $1.3 billion through debt offerings

Twitter, the microblogging website, said it plans to raise $1.3 billion by issuing convertible senior notes, its first debt offering since its market debut in November.

Shares of the company fell about 1.5 per cent in extended trading on Wednesday.

Twitter plans two offerings worth $650 million each in convertible senior notes due to mature in 2019 and 2021, the social networking website said in a filing.

The San Francisco-based company will also grant initial purchasers an option to buy up to $100 million in each of the offerings.

Twitter said it would use part of the net proceeds for general corporate purposes.

(Reuters)