Jack Dorsey's Blockchain plans to raise $1.5 billion through senior notes issuance

Jack Dorsey's fintech company Block (formerly Square) announced on May 6 that it plans to issue $1.5 billion in senior notes to qualified institutional investors through a private placement. Block said the terms of the notes, including interest rates and maturity dates, are subject to negotiation with the initial purchasers. Investors approved to participate in this round of financing include pension funds, banks, mutual funds and high-net-worth individuals. Fitch Ratings pointed out that Block has been using convertible bonds as external financing since its IPO and is well positioned to seize long-term growth opportunities in the payment and consumer financial services sectors. (Cointelegraph)