2024 Credit Agreement
TermLoan · 8x8, Inc.
Reference: 2024 Credit Agreement
- Original principal
- USD 200,000,000
- Outstanding
- —
- Commitment
- —
- Availability
- —
- Maturity
- —
Covenant terms for this agreement are not yet verified.
Documents and filing history
-
Issuance
· 2024-08-05
Original principal USD 200,000,000 Exact source document
Parent 8-K filing · 2024-08-07
As previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on July 15, 2024, the Company entered into a Term Loan Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders thereto (the “2024 Credit Agreement”). The funding of loans under the 2024 Credit Agreement occurred on August 5, 2024, and $200 million in aggregate principal amount was borrowed. The Company used the proceeds, along with $29 million from existing cash balances, to fund the prepayment of the aggregate principal amount plus accrued interest and fees of loans that had been outstanding under the 2022 Credit Agreement. See the Company’s Current Report on Form 8-K filed on July 15, 2024 for a description of the terms of the 2024 Credit Agreement, which is incorporated by reference into this Item 2.03.
Issuer evidence: On August 5, 2024, 8x8, Inc. (the “Company”) repaid in full all outstanding obligations for principal, interest and fees under the Term Loan Credit Agreement, dated as of August 3, 2022, by and among the Company, Wilmington Savings Fund Society, FSB, as administrative agent, and certain affiliates of Francisco Partners as lenders (as amended from time to time, the “2022 Credit Agreement”) and terminated the agreement. On such date, $225 million aggregate principal amount of loans had been outstanding under the 2022 Credit Agreement. Reference is hereby made to the Company’s Current Report on Form 8-K filed on August 4, 2022 for a description of the terms of the 2022 Credit Agreement.
Supporting evidence: As previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on July 15, 2024, the Company entered into a Term Loan Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders thereto (the “2024 Credit Agreement”). The funding of loans under the 2024 Credit Agreement occurred on August 5, 2024, and $200 million in aggregate principal amount was borrowed. The Company used the proceeds, along with $29 million from existing cash balances, to fund the prepayment of the aggregate principal amount plus accrued interest and fees of loans that had been outstanding under the 2022 Credit Agreement. See the Company’s Current Report on Form 8-K filed on July 15, 2024 for a description of the terms of the 2024 Credit Agreement, which is incorporated by reference into this Item 2.03.