DROPBOX, INC. (DBX): debt financing — 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.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DROPBOX, INC. amended credit facility of up to $700.0 million at at either (a) an alternate base rate...plus a margin of 2.75%, or (b) a term SOF maturing September 9, 2030.

Instrument: credit facility
Principal: up to $700.0 million
Rate: at either (a) an alternate base rate...plus a margin of 2.75%, or (b) a term SOF
Maturity: September 9, 2030
Event: amendment

Exact text from the filing

by the First Amendment, the “Amended Credit Agreement”) to provide for, among other things, additional secured delayed draw term loans in an aggregate principal amount up to $700.0 million (the “2025 Delayed Draw Term Loans”). The Amended Credit Agreement provides for a secured term loan facility in an aggregate principal amount of up to $2.7 billion, consisting of

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DROPBOX, INC. filing history →

Source: SEC EDGAR

accession 0001467623-25-000123

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