Dropbox adds $700M delayed draw term loans for 2026 notes; authorizes $1.5B buyback

DROPBOX, INC.

Amended credit agreement provides up to $700M in additional delayed draw term loans; total facility now $2.7B.
Proceeds may only be used to repay convertible senior notes due 2026.
New share repurchase authorization for up to $1.5B of Class A common stock.
Loans bear interest at SOFR+3.75% or base rate+2.75%; maturity September 9, 2030.
Blackstone Credit & Insurance served as lead arranger and lead structuring agent.

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