03:44 AM EST, 02/12/2025 (MT Newswires) -- Snap (SNAP) said late Tuesday it has priced a private offering of $1.5 billion worth 6.875% senior notes due 2033.

The sale is expected to close on Friday and is estimated to yield around $1.48 billion in net proceeds, which Snap said it will use to repurchase about $1.45 billion in convertible notes and for general corporate purposes.