Twitter seeks to raise $1 billion in high-yield bond offering

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Twitter Inc. TWTR, -4.05% said Wednesday it is offering $1 billion of high-yield 8-year bonds in a private placement. Proceeds will be used for general corporate purposes, including capex, investments, to repay debt, to buy back its stock, working capital and for potential acquisitions. “Currently, however, Twitter does not have any agreements with respect to any such material strategic transactions or acquisitions,” the company said in a statement. Twitter shares were down 0.5% premarket and have fallen 53% in the last 12 months, while the S&P 500 SPX, -1.01% has gained 11%.

This article was originally published by Marketwatch.com. Read the original article here.

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