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Akamai Plans $2.6 Billion Convertible Senior Notes Offering

BY MT Newswires | CORPORATE | 04:26 PM EDT

04:26 PM EDT, 05/18/2026 (MT Newswires) -- Akamai Technologies (AKAM) plans to offer $2.6 billion of 0% convertible senior notes due 2030 and 2032 in a private offering, the company said Monday.

The company said it intends to use the proceeds to support accelerated capital expenditures tied to its Cloud Infrastructure Services business, including expansion of its global footprint, as well as for general corporate purposes.

Akamai (AKAM) also plans to use about $350 million of the proceeds to repurchase shares in privately negotiated transactions.

The offering also includes options for initial purchasers to buy up to an additional $200 million of notes for each tranche.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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