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Block private sale issuance of $2.2 billion notes, scale exceeds expectations.
The payment service provider Block announced its latest updates, stating that it will price $1.2 billion principal notes (referred to as "2030 Notes") and $1 billion principal notes (referred to as "2033 Notes", collectively known as "Notes") through a private sale to individuals reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933 (as amended) (the "Act") and to non-U.S. persons outside the United States under Regulation S of the Act. The total principal amount of this issuance is higher than the previously announced $1.5 billion issuance size.