Spotify Announces Proposed Exchangeable Senior Notes Offering


NEW YORK--(BUSINESS WIRE)--Spotify Technology S.A. (NYSE: SPOT) today announced that its indirect subsidiary, Spotify USA Inc., intends to offer, subject to market and other conditions, $1,300,000,000 aggregate principal amount of exchangeable senior notes due 2026 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be fully and unconditionally guaranteed, on a senior, unsecured basis, by Spotify. Spotify USA also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $200,000,000 principal amount of notes.

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