Akamai Technologies (AKAM) plans to offer $2.6 billion of 0% convertible senior notes due 2030 and 2032 in a private offering, the company said Monday.
The company said it intends to use the proceeds to support accelerated capital expenditures tied to its Cloud Infrastructure Services business, including expansion of its global footprint, as well as for general corporate purposes.
Akamai also plans to use about $350 million of the proceeds to repurchase shares in privately negotiated transactions.
The offering also includes options for initial purchasers to buy up to an additional $200 million of notes for each tranche.
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