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Twilio Announces Proposed Public Offering of $1.0 Billion of Senior Notes

Twilio Inc. announced that it intends to offer, subject to market and other conditions, $1.0 billion of unsecured senior notes in a transaction registered under the Securities Act of 1933, as amended. The offering will be made only by means of a prospectus supplement and accompanying prospectus under Twilio’s effective shelf registration statement. The interest rate, offering price, and other terms of the notes will be determined by Twilio.

Twilio intends to use the net proceeds of the offering for general corporate purposes, which may include the acquisition of other companies or businesses, strategic investments, the refinancing or repayment of debt, capital expenditures, working capital and share repurchases.

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J.P. Morgan, Morgan Stanley and BofA Securities are acting as joint book-running managers for the proposed offering. Academy Securities, Cabrera Capital Markets and Siebert Williams Shank are acting as co-managers for the proposed offering.

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The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed by Twilio with the U.S. Securities and Exchange Commission (the “SEC”) on May 29, 2020 and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and are available on the SEC’s website. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

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This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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