05:52 AM EDT, 08/08/2025 (MT Newswires) -- Snap (SNAP) said Thursday it has priced $550 million in senior notes due 2034 in a private offering.

The notes will bear interest at a rate of 6.875% per year, payable semi-annually starting March 15, 2026.

Proceeds from the offering, expected to close on Aug. 12, along with existing cash, would be used to repurchase a total of $550.1 million in outstanding convertible notes, including $157.4 million due in 2026, $246.3 million due in 2027, and $185.8 million due in 2028, the company said.