Akamai Technologies (AKAM) priced a private offering of $1.5 billion of 0% convertible senior unsecured notes due May 15, 2030, and $1.5 billion of 0% convertible senior unsecured notes due May 15, 2032, the company said late Tuesday.
The sale was upsized from a previous planned $1.3 billion in each case.
Initial purchasers have an option to buy up to an additional $250 million of each series of the notes.
The company expects the sale of the notes to close Friday and plans to use part of the total estimated net proceeds of about $2.96 billion for share repurchases, among other things.
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