Snowflake prices enlarged $3.75 billion zero-coupon convertible financing
Snowflake ($SNOW) priced $3.75 billion of zero-coupon convertible senior notes, increasing the base financing from $3.5 billion. The placement comprises $2.0 billion maturing in 2029 and $1.75 billion in 2031. Initial purchasers can buy another $550 million across the two series. The company expects approximately $3.70 billion of net proceeds before the cost of associated hedges and planned debt repurchases. About $383.5 million is allocated to capped-call transactions intended to limit dilution
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