MicroStrategy Increases Convertible Bond Issuance to $700 Million for Bitcoin Purchase

According to BlockBeats, MicroStrategy has increased the issuance of its convertible senior notes to $700 million, with a maturity date set for 2030 and an interest rate of 0.625%. The issuance is expected to conclude on March 8, 2024, subject to customary closing conditions. Previously, MicroStrategy announced on March 5 that it intended to issue $600 million in principal amount of convertible senior notes in a private placement to qualified institutional buyers, depending on market conditions and other factors. The company plans to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.