Latham Advises on IREN’s Upsized US$2.6 Billion Convertible Notes Offering

IREN Limited (Nasdaq: IREN) has announced the pricing of its offering of US$2.6 billion aggregate principal amount of 1.00% convertible senior notes due 2033 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$2 billion aggregate principal amount of notes.

Latham & Watkins LLP represented the initial purchasers in the offering with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets Practice, and partners Drew Capurro, Brittany Ruiz, Andrew Blumenthal, and Ryan Gold, with associates Andrew Bentz, Eric Finkelberg, Madison Venezia, and Sareen Ishanyan. Advice was provided on derivatives matters by partner Reza Mojtabaee-Zamani, with associates Shawn Noh and Henry Lin; and on tax matters by partner Elena Romanova, with associate Joyce Shin.