Bending Spoons Proposes $1.5 Billion Debt Offering for Acquisitions

Bending Spoons S.p.A. proposed a $1.5 billion offering of senior secured notes due 2032 to fund general corporate purposes and future business acquisitions. The offering includes $1 billion in U.S. dollar-denominated notes issued by Bending Spoons U.S. Inc. and approximately $500 million in euro-denominated notes issued by Bending Spoons Operations S.p.A.

The debt is marketed with expected BB- ratings and yields slightly above 10% for dollar notes and 9% for euro notes. This financial move follows a period of rapid expansion, including the acquisitions of Miro and Airtable, and a $330 million investment from Berkshire Hathaway on October 14.

CEO Luca Ferrari stated that declining software valuations have created strategic opportunities for the Milan-based company. Francesco Patarnello, the head of business acquisitions, confirmed that the company's pipeline for mergers and acquisitions remains strong.