Californian microinverter maker Enphase Energy today announced it is planning a $1 billion issuance of senior notes.
The Fremont-based company said it would issue $500 million of convertible senior notes due to mature on March 1, 2026 and the same volume of investments to be settled two years later.
Enphase said the proceeds would finance a hedge against possible dilution of stock value due to the issuance; a repurchase program related to the company's 1%-interest-bearing 2024 notes and 0.25%, 2025 instruments; and general expenses.
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