BL - BlackLine raises $1B via convertible debt offering

BlackLine ([[BL]] +1.9%) has priced $1B of 0.00% convertible senior unsecured notes due March 15, 2026 in a private placement.Initial purchasers granted additional $150M of the notes.Offering is expected to close on March 15. Net proceeds to be ~$981.35M (or $1.129B if the initial purchasers exercise their option), of which $89M will be used to pay the cost of the capped call transactions,  ~$432.2M to redeem $250M of outstanding 0.125% convertibles senior notes due 2024 and the remainder for working capital and other general corporate purposes.

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BlackLine raises $1B via convertible debt offering