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Akamai Technologies is looking to raise $2.2bn by selling two sets of convertible bonds, Bloomberg reports, to help fund its spending.
Why it mattersFor a cloud-computing and cybersecurity provider, that puts a substantial financing plan on the table. The report does not specify the bonds’ terms or what spending they will support, so the destination of the money remains an open question. Convertible borrowing can bring future dilution as well as cash today.
Discuss: Should investors welcome a large funding raise for a technology business, or wait for clearer detail on what the money will build?
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