Q2 Holdings begins private exchange on 0.75% convertibles

By Taylor Fox

New York, Dec. 14 – Q2 Holdings, Inc. commenced a private exchange and subscription transaction with holders of its outstanding 0.75% convertible senior notes due 2023 and new investors, according to a news release.

Under the exchange and subscription agreements, Q2 issued $350 million principal amount of 0.125% convertible senior notes due 2025, consisting of $210.7 million of new notes and either shares of Q2's common stock or cash in exchange for $181.9 million principal amount of the 2023 notes, and $139.3 million principal amount of new notes for cash.

Q2 Holdings is an Austin, Tex.-based digital banking platform.

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