secwatch.observer — SEC 8-K summary
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Issuer:     RingCentral, Inc. (RNG)
CIK:        0001384905
Form:       8-K
Filed at:   2025-09-12T23:59:59+00:00
Accession:  0001384905-25-000045
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RingCentral enters new $1.24B credit facility; $310M term loan drawn at closing
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- New $280M revolver, $310M term loan (fully drawn), and $650M delayed draw term loan (undrawn at close).
- Maturity September 2030; springing maturity tied to convertible notes due 2026 if liquidity or note thresholds breached.
- Proceeds from initial term loan plus cash on hand used to repay existing term loan and related costs.
- Delayed draw facility (up to $650M, four drawings) available through Sept 2026 to repurchase 0% convertible notes and for general purposes.
- Financial covenants include max total net leverage ratio and min interest coverage ratio; interest rate margins based on leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384905/000138490525000045/0001384905-25-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384905/000138490525000045/rng-20250911.htm
  HTML page:      https://secwatch.observer/filing/0001384905-25-000045

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