Archive · 2 Dec 2025
Iren Seeks $2 Billion in Convertible Bonds
Iren Ltd.
is a company that builds data centers for AI and supercomputers.
They want to borrow $2 billion by selling special bonds that can be turned into company shares later.
These bonds are due in 2032 and 2033, with different interest rates.
The company's stock price dropped a bit after this news.
They're also selling new shares and might buy back some older bonds.
Big banks like Citigroup, Goldman Sachs, and JPMorgan are helping with this.
Iren Ltd. is raising $2 billion through two convertible bond issues due in 2032 and 2033.
The bonds have coupons ranging from 0% to 1% and a conversion premium of 25% to 30%.
Iren's shares fell 6.4% to $45.38 in after-hours trading following the announcement.
The company is also conducting a private share offering and may repurchase existing convertible bonds.
Citigroup, Goldman Sachs, and JPMorgan Chase are underwriting the bond and share issues.
- Who
- Iren Ltd., a data center firm focused on AI and high-performance computing
- What
- Seeking to raise $2 billion through two convertible bond issues
- When
- Details announced on Monday
- Where
- Sydney-based company, with bonds marketed in New York
- Why
- To meet demand for AI computing capacity and fund capped call transactions
- Company
- Iren Ltd.
- Industry Focus
- AI and high-performance computing data centers
- Coupon Rates
- 0% to 0.25% for 2032, 0.5% to 1% for 2033
- Conversion Premium
- 25% to 30%
- Share Price Change
- Fell 6.4% to $45.38 in after-hours trading
- Underwriters
- Citigroup, Goldman Sachs, JPMorgan Chase