CoreWeb to Advance $3 Billion Convertible Senior Note Issuance

CoreWeb ($CRWV) is advancing plans to issue $3 billion (approximately KRW 4.11 trillion) in convertible senior notes. In a statement released on April 9, CoreWeb disclosed it intends to issue the notes through a private placement with a 2032 maturity date. The company also stated that initial buyers will have an option to purchase up to $450 million (approximately KRW 616.5 billion) more in bonds within 13 days of the issuance date. CoreWeb noted that the interest rate and initial conversion terms will be determined during the pricing process. The company plans to allocate part of the proceeds toward cap call transaction costs, with the remainder used for general corporate purposes.