Asana signs $150M senior secured revolver with Wells Fargo; repays prior SVB facility

Asana, Inc.

$150M senior secured revolving credit facility with Wells Fargo as administrative agent; sub-limits of $30M for letters of credit and $15M for swingline loans; matures Nov 9, 2031.
Term SOFR loans at SOFR +2.00% (2.00%-2.50% after the Q4 FY2027 compliance certificate, tied to leverage); base rate +1.00%-1.50%; unused commitment fee 0.20%-0.30%.
Financial covenants: consolidated total net leverage no greater than 3.25 to 1.00 and interest coverage no less than 3.00 to 1.00, tested quarterly.
Secured by first-priority liens on substantially all assets and pledges of subsidiary equity; guaranteed by wholly owned subsidiary Eigen Inc. and future domestic subsidiaries.
On Nov 6, 2026 Asana repaid in full its 2022 credit agreement with Silicon Valley Bank (a division of First-Citizens) using cash on hand; that facility and its liens were terminated.

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