Artificial intelligence data center company Iren plans to issue $2 billion in convertible bonds

Jinse Finance reported that Iren Ltd., a data center company focused on artificial intelligence (AI) and high-performance computing, plans to raise $2 billion through two batches of convertible bond issuances. According to a statement released by the company on Monday, two tranches of $1 billion each will be issued, maturing in 2032 and 2033, respectively. According to sources familiar with the matter, the tranche with a 6.5-year term has a coupon rate range of 0% to 0.25% during the market roadshow phase, while the 7.5-year tranche has a coupon rate range of 0.5% to 1%.