09:44 AM EDT, 06/02/2025 (MT Newswires) -- Nebius Group ( NBIS ) said Monday it has agreed to sell $1 billion of convertible notes in a private placement to support expansion.

The company said it will issue two sets of senior unsecured convertible notes, with the first $500 million maturing in 2029 with a 2% annual rate, and another $500 million maturing in 2031 with a 3% rate.

Net proceeds from the offering, expected to close on Thursday, will be used for data center expansion, additional computing capacity, and general corporate needs, Nebius ( NBIS ) said.

Shares of the company were down more than 3% in recent Monday trading.

Price: 35.50, Change: -1.25, Percent Change: -3.40