07:12 AM EDT, 05/07/2024 (MT Newswires) -- Block (SQ), on Monday, priced its private placement of $2 billion principal amount of its 6.5% senior notes due 2032 to qualified institutional buyers, which was upsized from the previously announced offering size of $1.5 billion.

The notes are set to mature on May 15, 2032, unless earlier repurchased or redeemed under certain conditions, with interest to be paid in cash semi-annually in arrears starting Nov. 15, the company said.

Block expects to settle the notes' sale on May 9 and said proceeds from the offering will be used for general working capital.

Price: 73.21, Change: -0.32, Percent Change: -0.44