IREN Limited announced on October 7, 2025 that it intends to offer $875 million in aggregate principal amount of convertible senior notes due 2031, with an option for initial purchasers to buy an additional $125 million within 13 days of issuance.
The notes are senior, unsecured, accrue interest semi‑annually, and mature on July 1, 2031. Holders may convert the notes in specified circumstances, and the company may redeem them in whole or part after January 8, 2029, subject to price and conversion‑rate conditions.
Proceeds will be used to fund the cost of entering into capped call transactions with initial purchasers and other financial institutions, and the remaining net proceeds will support general corporate purposes and working capital.
This financing provides IREN with a flexible capital structure to support its AI infrastructure expansion while preserving its low‑cost renewable power advantage, though the convertible nature introduces potential future dilution.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.