VERISIGN INC/CA (VRSN): debt financing — VeriSign enters $200M revolving credit facility expiring Dec 2028, replacing prior credit agreement

VERISIGN INC/CA

New $200M unsecured revolving credit facility matures Dec 6, 2028, with two optional one-year extensions.
Facility replaces existing $200M credit agreement dated Dec 12, 2019; no material early termination penalties.
Proceeds for working capital, acquisitions, stock repurchases, capex, and general corporate purposes.
Covenant limits leverage ratio to 4.00x (up to 4.50x for four quarters after a $500M+ acquisition).
Company may request up to $150M increase in commitments during the term.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VERISIGN INC/CA incurred revolving credit of $200 million with JPMorgan Chase Bank, N.A. at Adjusted Term SOFR rate plus a margin of between 1.00% and 1.625% maturing December 6, 2028.

Instrument: revolving credit
Principal: $200 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: Adjusted Term SOFR rate plus a margin of between 1.00% and 1.625%
Maturity: December 6, 2028
Event: incurrence

Exact text from the filing

administrative agent, and the lenders party thereto (the “ Terminated Credit Agreement ”), which is further discussed in Item 1.02 below. The New Credit Agreement provides for a $200 million (the “ Commitment Amount ”) committed unsecured revolving credit facility (the “ New Facility ”), under which the Company and certain designated subsidiaries may be borrowers

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VERISIGN INC/CA terminated "Terminated Credit Agreement" with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (effective 2023-12-06).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
Effective: 2023-12-06

Exact text from the filing

The New Credit Agreement replaced the Credit Agreement, dated as of December 12, 2019, among the Company, the borrowing subsidiaries party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the “ Terminated Credit Agreement ”), which is further discussed in Item 1.02 below.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VERISIGN INC/CA entered into "New Credit Agreement" with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto valued at $200 million (effective 2023-12-06).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
Value: $200 million
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, VeriSign, Inc. (the “ Company ”) entered into a Credit Agreement (the “ New Credit Agreement ”) among the Company, any borrowing subsidiaries of the Company that are from time to time made party thereto, JPMorgan Chase Bank, N.A., as administrative agent (the “ Administrative Agent ”), and the lenders party thereto (the “ Lenders ”).

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

VERISIGN INC/CA filing history →

Source: SEC EDGAR

accession 0001014473-23-000040

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.