BILL closes $1.4B 0% convertible note offering due 2030; repurchases existing notes and shares

BILL Holdings, Inc.

Issued $1.4B 0% convertible notes due 2030; conversion price ~$119.45/share (35% premium to $88.48 close).
Net proceeds ~$1.38B; used ~$130.8M to repurchase $133.9M of 2025 notes, ~$408.6M for $451.5M of 2027 notes, ~$200M for 2.26M shares at $88.48, and ~$93M for capped calls.
Capped call transactions entered to offset potential dilution; counterparties may hedge in secondary market, impacting stock price.
Remaining proceeds for general corporate purposes, including additional debt repurchases, share buybacks, working capital, and M&A.

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