Deal: Zip Co Limited has completed a convertible notes offering.

Value: $400 million.

Area: Finance.

Key players: Zip were advised by a multi-jurisdictional and cross-practice team from DLA Piper, lead by Australian corporate partners Kelly Morrison and David Ryan and Singapore-based corporate partner Phillip Lee.

The trio were assisted by finance partners Onno Bakker and David Lyons, tax partner Eddie Ahn, special counsel Jennifer Whincup and Elliott Cheung, senior associate Kenny Mui, associates Andhari Sidharta and Mei Sum Chan and paralegal Katherine Keene.

Deal significance: Zip is described as a “leading player in the digital retail finance and payments industry, with operations across Australia, New Zealand, South Africa, the United Kingdom and the United States”.

“The unsecured senior convertible seven year notes, the proceeds of which are to be used to fund growth, were listed on the Official List of the Singapore Exchange Securities Trading Limited. Jarden and Bank of America acted as joint lead managers to the offering. An AUD$120 million delta placement was also undertaken to facilitate some of the hedging associated with the notes,” a statement from DLA Piper explained.

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Commenting further, lead partner Mr Ryan said: “We are delighted to continue supporting Zip on achieving its vision of becoming a truly global BNPL player. This transaction is a great example of the partnership with growing businesses the DLA Piper global platform is designed for.”