BlackLine Plans To Offer $500 Mln Of Senior Notes

(RTTNews) - BlackLine, Inc. (BL) announced on Tuesday that it intends to offer $500 million of convertible senior notes due 2029 in a private placement.

The company also plans to grant the initial purchaser a 13-day option to purchase up to an additional $75,000,000 of notes.

BlackLine will fix the interest rate, initial conversion rate, and other terms of the notes at the time of pricing of the offering.

The company intends to use part of the proceeds to fund the capped call transactions, repurchase of senior notes, and working capital, and other general corporate purposes.

BL was trading down by 2.99 percent at $56.15 in the pre-market trade on the Nasdaq.