07:37 AM EST, 02/10/2025 (MT Newswires) -- Snap (SNAP) said Monday it plans to offer $700 million worth of senior notes due 2033 through a private offering.

The notes will be guaranteed by certain Snap units, the company said.

Net proceeds, along with existing cash, will be used to buy back a part or all of Snap's outstanding convertible senior notes due 2025, 2026, 2027, and 2028, Snap said.

Any remaining proceeds will be used for general corporate purposes, it added.