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Twitter prices $700M debt offering

Twitter Inc. priced a $700 million offering of 3.875% senior notes due 2027.

The offering, which was upsized from the previously announced amount of $600 million, is expected to close Dec. 9, the company said Dec. 5.

The company intends to use the net proceeds for general corporate purposes, such as capital expenditures, investments, debt repayment, working capital, as well as potential acquisitions and strategic transactions. Interest on the notes will be payable in cash semiannually in arrears, beginning on June 15, 2020.

The notes will mature on Dec. 15, 2027, unless earlier repurchased or redeemed. Twitter may redeem the notes, in whole or in part, at a price equal to 100% of the principal amount, plus a "make-whole" premium and accrued and unpaid interest, if any.