Akamai Seeks to Raise $2.6 Billion in Convertible Bond Sale (1)

Akamai Technologies Inc. is seeking to raise $2.6 billion in a convertible bond offering to fund spending on cloud computing infrastructure.

The cybersecurity and cloud computing firm is offering two $1.3 billion tranches of zero coupon bonds, one due in 2030 and the other in 2032, according to a statement Monday. The bonds are expected to price on Tuesday after the market closes in New York, according to terms of the deal seen by Bloomberg News.

Shares of Akamai fell 4.1% to $144.60 each in after-hours trading as of 4:30 p.m.

Akamai will use $350 million of the offering to ...