Keel Infrastructure to issue $400M in convertible notes

Bitcoin mining company Keel Infrastructure (KEEL) plans to issue $400 million in convertible notes due in 2032, according to a Globe Newswire press release. The notes will carry an annual interest rate of 1.25%. The offering was upsized from an initial $350 million due to strong demand. Payment obligations for the notes are guaranteed on a senior unsecured basis by Keel's subsidiary, Bitfarms.