secwatch.observer — SEC 8-K summary
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Issuer:     RingCentral, Inc. (RNG)
CIK:        0001384905
Form:       8-K
Filed at:   2023-08-16T23:59:59+00:00
Accession:  0001384905-23-000043
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RingCentral issues $400M senior notes at 8.5% due 2030; expands credit facility by $25M
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- Issued $400M aggregate principal of 8.500% senior notes due 2030 in a private placement.
- Net proceeds ~$394M; to be used to repurchase/repay convertible notes and for general corporate purposes.
- Interest at 8.5% paid semi-annually on Feb 15 and Aug 15; notes mature Aug 15, 2030.
- Amended credit agreement: revolving commitments increased by $25M to $225M.
- Notes guaranteed by domestic subsidiaries; covenants include limitations on liens, subsidiary guarantees, and mergers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384905/000138490523000043/0001384905-23-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384905/000138490523000043/rng-20230815.htm
  HTML page:      https://secwatch.observer/filing/0001384905-23-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer