Snowflake Inc. entered into an indenture for $2 billion in convertible senior notes due 2029, the company said in a filing.
The indenture, dated October 1, 2026, was signed between Snowflake and U.S. Bank Trust Company, National Association, which is serving as trustee for the notes.
The notes carry a 0.00% interest rate and were issued in an initial aggregate principal amount not to exceed $2,000,000,000. That amount can increase by the aggregate principal of any additional notes purchased by the initial purchasers under an option to buy more notes, as set out in the purchase agreement.
The indenture sets the terms governing the notes, including provisions for conversion, repurchase upon a fundamental change, and optional redemption by the company. It also establishes events of default, remedies available to noteholders, and the duties of the trustee in administering the notes.
Snowflake will initially act as its own bid solicitation agent, a role involving the solicitation of bids for the trading price of the notes as specified in the indenture.
$SNOWSnowflakePrice$341 ▼0.29%Net sentiment+0.04Bullish42%Mentions · 30d149 ▼29%Samplen=149Avg volume238,979View on the dashboardFinazon · prior-day close, indicative (IEX-derived, not the official close) · Oct 2, 2026