The offering is for 2.375 per cent guaranteed senior unsecured convertible notes due 2023, which will trade on the Singapore exchange.  “We see the additional financial flexibility provided by this offering as supporting the significant opportunity we have to enhance and extend Xero’s small business platform and ecosystem capabilities, through the pursuit of complementary targeted acquisitions,” CEO Steve Vamos said in in a prepared statement. The announcement described the use of proceeds as “for potential acquisitions of, and investments into, strategic and complementary businesses and assets which are in line with Xero’s strategy to drive long-term shareholder value.” Xero said no deals or understandings for acquisition exist currently. Vamos said the fundraising technique is common for technology companies in the United States, but “is groundbreaking for a New Zealand or Australian company not listed in the U.S.”