Twitter Inc. is looking to raise $1 billion in the US bond market in part to help finance a share buyback, potentially reviving the junk-rated primary market that’s been frozen since Feb. 10.
The eight-year unsecured notes may be sold as soon as Wednesday, according to a person with knowledge of the matter. Proceeds will be used for general corporate purposes, which could also include capital expenditures, investments and working capital, according to a statement.
Twitter shares have dropped 11% since the company announced a $4 billion stock buyback in conjunction with its quarterly earnings report on Feb. 10, while the tech-heavy Nasdaq 100 Index has declined about 5% in the same period. The stock is down 23% this year.
Newly installed Twitter Chief Executive Officer Parag Agrawal has vowed to increase accountability, make decisions faster and to improve product execution. Last year, the company has set…