Poorly received by investors, the moves comes in a difficult year Cloud-based data warehousing and analytics biz Snowflake has issued $2 billion in bonds with the aim to buy back shares and potentially launch an acquisition strategy.

Snowflake Inc. is seeking to raise $2 billion from the sale of convertible bonds. The cloud computing company is offering two issues of $1 billion each in a private placement, according to a statement Monday.

Snowflake outlined plans to raise $2 billion in debt to finance a $575 million share buyback plan and a series of possible acquisitions and strategic investments