Dropbox, Inc. announced an amendment to its existing Credit and Guaranty Agreement providing the Company with up to an additional $700 million in delayed draw secured term loans.
The amended facility was led and substantially provided by Blackstone Credit & Insurance, who served as lead arranger and lead structuring agent.
The Company also announced a new share repurchase authorization for the purchase of an additional $1.5 billion of its Class A common stock.
Amendment to Credit Agreement
Providing up to $700 million in delayed draw secured term loans.
Share Repurchase Program
Authorization to purchase $1.5 billion of Class A common stock.
Lead Arranger
Blackstone Credit & Insurance led and provided the amended facility.
- The amendment to the Credit and Guaranty Agreement will enable Dropbox to manage its outstanding convertible senior notes due in 2026 efficiently.
- The share repurchase program reflects confidence in the company's financial position and a commitment to enhancing shareholder value.
Dropbox's strategic moves, including the amendment to the Credit Agreement and the share repurchase program, demonstrate a proactive approach towards optimizing its financial structure and rewarding shareholders.