BOX INC (BOX): debt financing — Box refinances credit facility with $150M revolver maturing 2028

BOX INC

Senior secured revolving facility of $150M with a $45M sublimit for letters of credit.
Maturity is the earliest of June 30, 2028, Oct 16, 2025 (subject to conditions), or Feb 11, 2028 (if preferred stock outstanding).
At closing, $30M in revolving loans and $18.6M in letters of credit were outstanding.
Interest: prime rate plus 0.35%–0.85% or SOFR plus 1.35%–1.85%; commitment fee 0.15%–0.25% on unused portion.
Financial covenants: max senior secured leverage 3.00x, max total leverage 6.00x, min interest coverage 3.00x.

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

BOX INC incurred revolving credit of $150 million with Wells Fargo Bank, National Association at prime rate plus a margin ranging from 0.35% to 0.85%, daily simple SOFR rate plu maturing June 30, 2028.

Instrument: revolving credit
Principal: $150 million
Counterparty: Wells Fargo Bank, National Association
Rate: prime rate plus a margin ranging from 0.35% to 0.85%, daily simple SOFR rate plu
Maturity: June 30, 2028
Event: incurrence

Exact text from the filing

27, 2017, between the Company and the Lender, as amended. The Credit Agreement provides for a senior secured revolving loan facility in an aggregate principal amount of up to $150 million at any time outstanding, with a sublimit of $45 million for the issuance of letters of credit. Pursuant to the Credit Agreement, the revolving line of credit terminates, and all

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

BOX INC entered into Amended and Restated Credit Agreement with Wells Fargo Bank, National Association valued at $150 million (effective 2023-06-30).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: $150 million
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023, Box, Inc. (the “Company”) entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) between the Company, as borrower, and Wells Fargo Bank, National Association, as the lender (the “Lender”).

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Source: SEC EDGAR

accession 0001193125-23-181340

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