Xero completes buyback of $297 million 2.375% convertibles

By Taylor Fox

New York, Dec. 3 – Xero Investments Ltd. completed its buyback of $297 million of $300 million 2.375% guaranteed senior convertible notes due Oct. 4, 2023, according to a company announcement.

The notes were repurchased at a price of $448,760 per $200,000 of the notes for a total consideration of $666,408,600.

All repurchased notes will be canceled.

The notes were guaranteed by Xero Ltd.

Xero plans to redeem the remaining outstanding notes at par plus interest on Jan. 21.

The conversion price is $46.3386 per ordinary share.

Xero is a Wellington, New Zealand-based cloud-based accounting software company.

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