Latham & Watkins Advises on BlackLine, Inc.’s Upsized US$600 Million Convertible Senior Notes Offering

On May 24, 2024, BlackLine, Inc. (Nasdaq: BL) closed an offering of US$600 million aggregate principal amount of 1.00% convertible senior notes due 2029 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The aggregate principal amount of the offering was increased from the previously announced offering size of US$500 million. BlackLine also granted the initial purchaser of the notes a 13-day option to purchase up to an additional US$90 million aggregate principal amount of the notes.

Latham & Watkins LLP represented the initial purchaser in the offering with a capital markets team led by partners Steven Stokdyk, Witold Balaban, Catherine Lee, and Brent Epstein, with associates Andrew Bentz, Hera Liao, Sloan Ungerman, and Steve Hess. Advice was also provided on tax matters by partner Aaron Bernstein, with associate Allison Esquen-Roca.