General Newsroom Hero 1920x480 (4:1)
Our Work

Latham & Watkins Advises Initial Purchasers in Snap Inc.’s US$1 Billion Convertible Senior Notes Offering

April 28, 2021
Firm represented the initial purchasers in the offering by the camera and social media company.

Snap Inc., a camera and social media company, has announced the pricing of US$1 billion aggregate principal amount of 0% convertible senior notes due 2027 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Snap also granted the initial purchasers of the notes an option to purchase up to an additional US$150 million aggregate principal amount of notes. The sale of the notes is expected to close on April 30, 2021, subject to customary closing conditions.

Latham & Watkins LLP represents the initial purchasers in the offering with a corporate team led by Bay Area partner Rick Kline, with Bay Area associates Zuzanna Gruca and Elizabeth Glusman. Advice was provided on convertible debt matters by New York partner Greg Rodgers, with New York associates Andrew Blumenthal and James Dorian; on equity derivatives matters by New York partner Reza Mojtabaee-Zamani, with New York associates Christopher Yu and Ariel Robbins-Rothman; and on tax matters by New York partner Elena Romanova, with New York associate Ted Gkoo.

Endnotes