Square to offer $1 billion in convertible notes

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Square to offer $1 billion in convertible notes
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Square Inc. announced Monday morning that it intends to conduct a $1 billion convertible-note offering. The notes will be due in 2025. They will be convertible into cash, common stock, or a combination of the two at the company's discretion. Square has been one of the best-performing payments stocks in recent weeks as concerns about the coronavirus outbreak have pressured peer names with more global exposure. Square has a more domestic focus and some analysts view the company as less exposed to tourism and travel. Square shares have added 11.6% over the past month, as the S&P 500 has lost 8.4%.

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