---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-228949"
form_type: "8-K"
ticker: "AKAM"
cik: "0001086222"
company_name: "AKAMAI TECHNOLOGIES INC"
filed_at: "2026-05-18T20:16:52+00:00"
generated_at: "2026-05-18T20:24:35.738329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-228949
- form_type: 8-K
- ticker: AKAM
- cik: 0001086222
- company_name: AKAMAI TECHNOLOGIES INC
- filed_at: 2026-05-18T20:16:52+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086222/000119312526228949/0001193125-26-228949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086222/000119312526228949/d123781d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-228949
- JSON: https://secwatch.observer/filing/0001193125-26-228949.json
- Plain text: https://secwatch.observer/filing/0001193125-26-228949.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086222/000119312526228949/0001193125-26-228949-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.