08:16 AM EDT, 03/17/2026 (MT Newswires) -- Nebius Group ( NBIS ) said Tuesday it intends to offer $3.75 billion in convertible senior notes in a private placement to qualified institutional buyers.

The company said the offering includes $2 billion of notes due 2031 and $1.75 billion of notes due 2033, with an over-allotment option of up to $300 million for the 2031 notes and $262.5 million for the 2033 notes.

Nebius ( NBIS ) said it plans to use net proceeds to fund data center construction, AI cloud development, expansion of its data center footprint, procurement of key components including GPUs, and general corporate purposes.

The notes will bear interest semi-annually, the company said, adding that the 2031 and 2033 notes will mature on March 15, 2031, and March 15, 2033, respectively.

Final terms, including interest rates and conversion rates, will be set at pricing, it added.