Twitter to raise $1.3 billion through debt offerings

Twitter Inc said it plans to raise $1.3 billion by issuing convertible senior notes, its first debt offering since its market debut in November.

Twitter Inc said it plans to raise $1.3 billion by issuing convertible senior notes, its first debt offering since its market debut in November.

Twitter shares fell about 1.5 % in extended trading on Wednesday.

The company plans two offerings worth 650 million each in convertible senior notes due to mature in 2019 and 2021, the microblogging website said in a filing.

Twitter will also grant initial purchasers an option to buy up to $100 million in each of the offerings.

The San Francisco-based company said it would use part of the net proceeds for general corporate purposes.