Square Floating $2 Billion in Fresh Debt

The company announced Monday that it is floating $2 billion in aggregate principal amount of senior notes. It said that the interest rate, maturity date, terms of redemption, and other key features of the debt securities would be determined by negotiations between it and potential buyers. According to a report in Bloomberg, citing "people with knowledge of the matter," the two phases would consist of one issue of notes with five-year maturities, and one with a 10-year term.