Nebius Group Upsizes Private Offering to $5 Billion in Convertible Notes

Nebius Group N.V., an AI cloud company, announced the pricing of its expanded private offering, increasing it to $5 billion. The offering includes two series of convertible senior notes: $3 billion due 2030 at 0.50% interest, and $2 billion due 2034 at 4.50% interest.

Initially set at $4.5 billion, the offering's size was increased, with an option for initial purchasers to buy an additional $750 million. Settlement is expected by August 24, 2026. Concurrently, Nebius entered exchange agreements for $800 million in existing notes, converting them to around 15.8 million Class A shares.

Nebius plans to use the proceeds, estimated at $4.94 billion after expenses, to finance business growth, expand data centers, and enhance its AI cloud technology. The company remains optimistic about funding its strategic growth initiatives.