Airbnb, Inc. Senior Notes Offering

Airbnb, Inc. has entered into an underwriting agreement for a public offering of $2.5 billion in aggregate principal amount of senior notes. The offering includes $850.0 million of 4.400% Senior Notes due 2029, $850.0 million of 4.650% Senior Notes due 2031, and $800.0 million of 5.250% Senior Notes due 2036. The company also used the net proceeds from this offering to repay $2.0 billion of its 0% convertible senior notes due March 2026 upon their maturity. The terms of the new notes are governed by an indenture, which includes covenants that limit the company's and its subsidiaries' ability to incur liens, enter into sale and leaseback transactions, and consolidate or merge, among other things. The indenture also contains customary event of default provisions.