SAN JOSE, Calif. - BILL (NYSE: BILL), a prominent financial operations platform for small and midsize businesses, disclosed its plans to repurchase approximately $748.2 million of its 0.0% Convertible Senior Notes due in 2025. The transactions, set to conclude on March 13, 2024, will see the notes bought back for an estimated $707.1 million, a figure subject to adjustments based on BILL's common stock's average price during a specified period.
After the completion of these privately negotiated repurchase agreements, BILL intends to cancel the acquired notes. This will leave roughly $401.8 million of the 2025 Notes in circulation. The company's actions could potentially influence the trading price of its common stock.
BILL has positioned itself as an advocate for small and midsize businesses by providing an integrated platform designed to enhance the efficiency of financial operations such as payables, receivables, and expense management. With its headquarters in San Jose, California, BILL has established itself as a reliable partner for U.S. financial institutions, accounting firms, and accounting software providers.
This news article is based on a press release statement from BILL.
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