Sea raises US$575 mil in convertible notes offering

SINGAPORE (June 19): Sea has completed its previously announced offering of US$575 million ($777 million) aggregate principal amount of 2.25% convertible senior notes due 2023.

See: Sea mulls raising funds for e-commerce as quarterly loss triples

To address investor demand, the company increased the offering size from an initial US$400 million to US$500 million, and a full exercise of a 15% “greenshoe” option by the initial purchaser brought the total offering size to US$575 million.

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