Xero Limited (AU:XRO) has released an update.
Xero Limited has launched an offering of US$850 million in convertible notes due 2031, aimed at enhancing financial flexibility to support strategic growth initiatives, including potential acquisitions. The offering, managed by Goldman Sachs and Morgan Stanley as joint lead managers, will also involve the repurchase of existing notes and the establishment of new call spread transactions to mitigate dilution and manage cash settlement obligations. These moves are expected to influence the market price of Xero’s ordinary shares and are subject to successful pricing and settlement.
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