Adobe (ADBE) enters $3.5B term loan facility to fund Figma acquisition

ADOBE INC.

Up to $3.5B senior unsecured delayed draw term loan; proceeds to fund a portion of Figma acquisition cash consideration and fees.
Loan available upon Figma closing; availability period ends Sept 15, 2023 (extendable to Mar 15, 2024 under certain conditions).
Matures two years after funding; no scheduled principal amortization; prepayable without premium or penalty.
Interest at Term SOFR or Base Rate plus margin based on Adobe's debt rating; commitment fees payable on undrawn commitments.
Lenders include Bank of America (admin agent), JPMorgan, Societe Generale, US Bank, Wells Fargo and others.

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