Twitter seeks to borrow up to $1.5B in debt

Twitter is raising money — debt money — and is seeking between $1.3 billion and $1.5 billion, according to a filing to the U.S. Securities and Exchange Commission and announcement from the company.

Twitter, which went public in Nov. 2013, is offering two sets of convertible notes for $650 million each, one due to mature in 2019 and the other in 2021. The company is also open to offering an additional $100 million for each piece if the purchasing institutions are interested.

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In terms of what Twitter will do with the money, the statement is vague:

Twitter expects to use a portion of the net proceeds of the offering of the notes to pay the cost of the convertible note hedge transactions described above (after such cost is partially offset by the proceeds to Twitter of the warrant transactions described above), and to use the remaining proceeds of the offering for general corporate purposes.

It’s likely that Twitter is not only taking advantage of the currently low interest rates but also pulling in some extra cash in order to make new acquisitions. The San Francisco-based company has made several acquisitions just in 2014, and given its need to beef up its revenue, it could very well be looking to buy up other companies to help it do just that.

A Twitter spokesperson declined to give further details, only referring to Twitter’s original announcement.

Fellow public tech companies Google and Netflix also borrowed money earlier this year.