04:38 PM EST, 12/02/2024 (MT Newswires) -- BILL Holdings ( BILL ) late Monday disclosed plans for a $1 billion private placement of convertible senior notes maturing in 2030, subject to market conditions and other factors.

The financial software company said it will provide the initial buyers of the notes with a 13-day option to acquire up to $150 million of additional notes to cover potential overallotments.

BILL said it will use net proceeds from the private placement to pay the cost of capped call transactions, to repurchase convertible senior notes due 2025 and 2027, and for general corporate purposes.

BILL shares were down 2.3% in after-hours activity.

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