Jack Dorsey's Block plans to issue $1.5 billion in senior notes to institutional investors through a private placement

ChainCatcher news, Jack Dorsey's payment company Block Inc. announced on May 6 its plan to issue $1.5 billion in senior notes through a private placement to qualified institutional investors.

The company stated in a statement that the terms of the notes, including the interest rate and maturity date, will depend on negotiations with the initial purchasers. Investors approved to participate in this round of financing include pension funds, banks, mutual funds, and high-net-worth individuals.

Previous news, Block Inc. co-founder Jack Dorsey announced that starting in April 2024, Block will allocate 10% of the gross profits from Bitcoin-related products each month to purchase Bitcoin.