Akamai proposes $2.6B 0% convertible notes, $350M buyback, ups leverage covenant

AKAMAI TECHNOLOGIES INC

Offers $1.3B of 0% convertible notes due 2030 and $1.3B of 0% notes due 2032 to QIBs.
Initial purchasers may buy an additional $200M of each tranche; pricing terms to be set.
Plans to use ~$350M of net proceeds to repurchase shares from note purchasers.
Remaining net proceeds to fund accelerated capex for Cloud Infrastructure Services business.
Credit agreement amended to allow max consolidated leverage ratio of 4.75:1 for Q2/Q3 2026.

Key facts

Extracted from this filing and checked against the source text.

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

AKAMAI TECHNOLOGIES INC amended Third Amendment with the financial institutions identified therein as lenders and JPMorgan Chase Bank, N.A., as administrative agent (effective 2026-05-18).

Action: amendment
Agreement: credit facility
Counterparty: the financial institutions identified therein as lenders and JPMorgan Chase Bank, N.A., as administrative agent
Effective: 2026-05-18

Exact text from the filing

On May 18, 2026, Akamai Technologies, Inc. (“Akamai”) entered into an Amendment No. 3 (the “Third Amendment”), by and among Akamai, the financial institutions identified therein as lenders and JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”), which amends that certain Credit Agreement (the “Credit Agreement”), dated November 22, 2022

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

AKAMAI TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001193125-26-228949

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.