Sidley Advises on Snap’s Upsized US$1.5 Billion Senior Notes Offering

Snap Inc. (NYSE: SNAP) announced the pricing of US$1.5 billion aggregate principal amount of 6.875% senior notes due 2033 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The sale of the notes is expected to close on February 14, 2025, subject to customary closing conditions.

Sidley is representing the initial purchasers in the offering, with a deal team being led by Natalie Karam and Johnny Skumpija (Capital Markets), and including John Stribling, Kayla West, Hannah Brown, Sabrina Tawfik, and law clerk Julia Gaul (Capital Markets); and Rachel Kleinberg and Jonathan Westreich (Tax).