Roblox is preparing to attract additional investments. She announced that she would sell senior unsecured bonds worth $1 billion.
Roblox CEO David Baszucki. Photo: Roblox
Roblox intends to spend the proceeds on “general corporate purposes”.
For example, for the development of your platform or transactions with other companies.
There are no details about the terms of the bond issue. Roblox has indicated that it will negotiate the interest rate, terms and maturities with first-time buyers. When this will happen is not specified.
However, according to the Bloomberg business portal, citing an anonymous source, the company has already discussed at least some of the details with investors. According to his data, Roblox is going to sell bonds with a yield of 3% and a maturity of 8.5 years. The bonds will receive a BB rating. The organizers of the issue will be American financial companies Morgan Stanley, Goldman Sachs and JPMorgan Chase & Co.
Recall that Roblox became a public company this March. It conducted a direct listing on the New York Stock Exchange, after which its valuation rose to $45.2 billion. Last year, Roblox’s revenue was $923.9 million, but the platform suffered losses of $253.3 million.