IT firm Xero launches $850 million convertible notes offering due 2031
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 04 2024
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Source: Yahoo Finance
- Xero's Fundraising: Xero, a software service company, is raising $850 million through fixed coupon guaranteed senior unsecured convertible notes.
- Trend in Convertible Bond Offerings: Recent surge in convertible bond offerings, with deals from companies like Alibaba, Lenovo, JD.com, and Poly Developments and Holdings Group.
- Listing Plans: Xero plans to list the notes on the Singapore stock exchange.
- Utilization of Proceeds: The net proceeds will be used for repurchasing existing notes, potential acquisitions, and investments.
- Investor Attraction: Xero Investments is conducting a reverse bookbuilding process to attract investors for a buyback program.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
