---
schema_version: "secwatch.filing_event.v1"
accession: "0001477333-24-000053"
form_type: "8-K"
ticker: "NET"
cik: "0001477333"
company_name: "Cloudflare, Inc."
filed_at: "2024-05-21T23:59:59+00:00"
generated_at: "2026-06-01T10:42:45.359079+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Cloudflare enters $400M senior secured revolver due 2029; no initial borrowings

## Summary
- $400M revolving credit facility with $30M sublimits for letters of credit and swingline loans.
- Maturity May 17, 2029, with springing maturity if 2026 convertible notes remain outstanding and liquidity condition not met.
- Interest at SOFR + 1.75%-2.50% or base rate + 0.75%-1.50%, depending on total net leverage ratio.
- Commitment fee 0.25%-0.40% on unused portion; proceeds for working capital and general corporate purposes.
- Covenants include max net leverage ratio and min interest coverage; no loans or letters of credit outstanding at closing.

## SEC filing metadata
- accession: 0001477333-24-000053
- form_type: 8-K
- ticker: NET
- cik: 0001477333
- company_name: Cloudflare, Inc.
- filed_at: 2024-05-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477333/000147733324000053/0001477333-24-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477333/000147733324000053/cloud-20240517.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477333-24-000053
- JSON: https://secwatch.observer/filing/0001477333-24-000053.json
- Plain text: https://secwatch.observer/filing/0001477333-24-000053.txt

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