Nebius Group Announces $4 Billion Convertible Notes Offering

Nebius Group N.V., an AI infrastructure company, has announced the pricing of a $4 billion private offering of convertible senior notes. The issuance includes $2.25 billion of 1.250% notes due 2031 and $1.75 billion of 2.625% notes due 2033. Initially sized at $3.75 billion, the offering was increased, with expected settlement on March 20, 2026.

The company anticipates net proceeds of $3.96 billion, or $4.55 billion if additional options are exercised. Funds will primarily support data center expansion and AI cloud development. Notes will mature in 2031 and 2033, with initial conversion premiums over 55% based on recent share prices. They entail conditions for conversion and redemption, with detailed terms documented in associated indentures.