03:19 AM EST, 12/04/2024 (MT Newswires) -- BILL Holdings ( BILL ) said Wednesday it priced a private placement to eligible purchasers of $1.25 billion of zero percent convertible senior notes due 2030.

The initial purchasers have been granted a 13-day option to purchase up to $150 million additional amount of notes.

Net proceeds will be used to fund certain capped call transactions, share and note repurchases, and general corporate purposes, the company said.

The notes will be convertible at an initial rate of $119.45 per share.

The offering, which was upsized from $1 billion, is expected to close on Friday.