This is the NASDAQ-listed company's third such offering in the last 12 months
Allens has assisted IREN Limited with its US$1bn convertible senior notes offering, tackling the deal’s Australian law aspects.
This is the third convertible notes offering for IREN in the last 12 months. IREN previously recorded a US$440m issuance in December 2024 and a US$550m issuance in June.
“This transaction had a number of notable features, including a 0.0% coupon and a 42.5% conversion premium, an over-allocation option of $125 million (which was exercised), and capped call transactions which were designed to provide a hedge upon conversion”, Allens lead partner Julian Donnan said.
In addition to Donnan, the firm’s team consisted of the following:
M&A and capital markets:
Finance, banking and debt capital:
Tax:
IREN is incorporated in Australia and listed on the NASDAQ. It owns and operates next-generation data centres fully powered by renewable energy in the US and Canada. It supports AI and Bitcoin mining workloads.
