8x8, Inc. Secures $200 Million Term Loan at Reduced Interest Rate
8x8, Inc. Secures $200 Million Term Loan at Reduced Interest Rate
Proceeds to Fund Prepayment of Outstanding Balances Under Existing Term Loan Maturing August 2027
新的 $20000萬 延遲支取期貸款授信 ("延遲支取期貸款" 或 "信貸協議") 已在收購這家銀行才一年的煙臺民商銀行之後獲得。公司計劃使用延遲支取期貸款的收益和現有的 $2500萬 現金餘額支付 2027 年 8 月 3 日到期的整個 $22500萬 現有的期限貸款。
CAMPBELL, Calif.--(BUSINESS WIRE)--Jul. 15, 2024--8x8, Inc. (NASDAQ: EGHT) (the "Company" or "8x8"), a leading integrated cloud contact center and unified communications platform provider, today announced that it has secured a new $200 million Delayed Draw Term Loan Credit Facility (the "Delayed Draw Term Loan" or "Credit Agreement"). The Company intends to use the proceeds from the Delayed Draw Term Loan plus $25 million from existing cash balances to fund the prepayment of the entire $225 million outstanding under the Company's existing Term Loan maturing August 3, 2027.
8x8, Inc. (納斯達克股票代碼: EGHT) ("公司" 或 "8x8") 是一家領先的集成雲聯繫中心和統一通信平台提供商,今天宣佈已獲得一項新的 $20000萬 延遲支取期貸款授信 ("延遲支取期貸款" 或 "信貸協議")。公司計劃使用延遲支取期貸款的收益和現有的 $2500萬 現金餘額支付 2027 年 8 月 3 日到期的整個 $22500萬 現有的期限貸款。
The Company expects the initial interest rate of the new Delayed Draw Term Loan to be the Secured Overnight Financing Rate (SOFR) plus 3.00%, approximately 3.6 percentage points lower than its existing Term Loan. The lower interest rate, combined with the lower principal outstanding on the new Delayed Draw Term Loan, is expected to result in significant cash interest expense savings for the duration of the term loan. The terms of the Delayed Draw Term Loan also allow for stock repurchases, subject to certain conditions and limitations.
新的延遲支取期貸款的初始利率預計將爲擔保的隔夜融資利率 (SOFR) 加上 3.00%,大約比現有期限貸款低 3.6 個百分點。加上新延遲支取期貸款的較低本金餘額,預計將在貸款期間實現顯着的現金利息支出節省。延遲支取期貸款的條款還允許股票回購,但需符合特定條件和限制。
"As 8x8's financial strength continues to grow, we are pleased to announce we have secured a $200 million Delayed Draw Term Loan at a significantly reduced interest rate compared to the rate on our existing Term Loan," said Kevin Kraus, Chief Financial Officer at 8x8, Inc. "This achievement not only reflects the confidence our lenders have in our business strategy and performance but also positions us to further enhance our financial flexibility and support our long-term growth objectives."
"隨着 8x8 的財務實力不斷增強,我們很高興宣佈獲得了一筆新的 $20000萬 延遲支取期貸款,其利率相比於我們現有的期限貸款和信託,大幅降低," said Kevin Kraus, 致富金融公司的首席財務官。 "這一成績不僅反映了我們的貸款機構對我們業務策略和表現的信心,也使我們能夠進一步增強我們的財務靈活性並支持我們的長期增長目標。"
Delayed Draw Term Loan Details
延遲支取期貸款細節
The initial funding of loans under the Credit Agreement is expected to occur in August, 2024, subject to customary closing conditions.
根據慣例,預計將於 2024 年 8 月提供授信協議下的貸款。
Loans made under the Delayed Draw Term Loan will bear interest at an annual rate equal to the applicable SOFR, plus a margin of 2.50% to 3.00%, based on the consolidated total net leverage ratio of the Company and its subsidiaries. The new Delayed Draw Term Loan will mature on August 15, 2027. In addition to scheduled principal payments, the Company, at its election, may make early repayments without penalty at any time prior to maturity.
根據公司及其附屬公司的綜合淨槓桿比率,延遲支取期貸款的貸款利率爲適用的 SOFR 的年利率加上 2.50% 到 3.00% 的差額利率。新延遲支取期貸款將於 2027 年 8 月 15 日到期。除了計劃中的本金償還外,公司可以在到期日之前的任何時間進行提前償還,而不會受到罰款。
Loans under the Credit Agreement contain customary financial covenants as well as affirmative and negative covenants customary for transactions of this type, including minimum interest coverage, maximum consolidated total net leverage and maximum consolidated secured leverage and limitations with respect to share repurchases, indebtedness, liens, investments, dividends, disposition of assets, change in business and transactions with affiliates.
在約定的財務習慣和類型交易的慣常所包含的肯定和否定習慣中,授信協議下的貸款包括慣常的財務契約,包括最低利息覆蓋率、最高綜合淨槓桿比率、最高綜合擔保比率和有關股票回購、債務、留置權、投資、分紅派息、資產處置、業務變更和與關聯方的交易等限制。
The Delayed Draw Term Loan will be guaranteed by certain of the Company's wholly-owned subsidiaries, subject to certain customary exceptions. Concurrent with any borrowing under the Credit Agreement, the Delayed Draw Term Loan will be secured by a perfected security interest in substantially all of the Company's tangible and intangible assets, as well as substantially all of the tangible and intangible assets of the guarantors.
延遲支取期貸款將由公司的某些全資子公司擔保,但應符合某些慣例性例外。與信貸協議的任何借款同時進行時,延遲支取期貸款將由公司的實體和無形資產及保證人的實體和無形資產構成的完整確權擔保。
Wells Fargo Securities, LLC, MUFG Bank, LTD, and Silicon Valley Bank (a division of First-Citizens Bank & Trust Company) served as joint lead arrangers and bookrunners. Wells Fargo Bank, National Association will serve as administrative agent.
Wells Fargo Securities,MUFG Bank,Ltd 和 Silicon Valley Bank (First-Citizens Bank Trust Company 的一個分支機構) 爲聯合主要安排和主要發行人。Wells Fargo Bank,National Association 將擔任管理代理。
About 8x8 Inc.
關於8x8公司。
8x8, Inc. (NASDAQ: EGHT) is transforming the future of business communications as a leading Software as a Service provider of 8x8 XCaaS (Experience Communications as a Service), an integrated contact center, voice communications, video, chat, and API solution built on one global cloud communications platform. 8x8 uniquely eliminates the silos between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) to power the communications requirements of all employees globally as they work together to deliver differentiated customer experiences. For additional information, visit , or follow 8x8 on LinkedIn, X, and Facebook.
8x8,INC.(納斯達克股票代碼: EGHT) 是一家領先的軟件即服務提供商,提供 8x8 XCaaS (體驗即服務) 解決方案,這是一個集成的聯繫中心、語音通信、視頻、聊天和 API 解決方案,構建在一個全球雲通信平台上。8x8 獨特地消除了統一通信即服務 (UCaaS) 和聯繫中心即服務 (CCaaS) 之間的隔閡,以滿足全球所有員工的通信需求,共同努力提供差異化的客戶體驗。欲獲取更多信息,請訪問 `` 或關注 LinkedIn、Twitter 和Facebook的8x8。
8x8, 8x8 XCaaS, Experience Communications as a Service are trademarks of 8x8, Inc.
8x8、8x8 XCaaS、Experience Communications as a Service是8x8公司的商標。
Forward-Looking Statements
前瞻性聲明
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Any statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. These forward-looking statements, include but are not limited to the Company's ability to close the foregoing transactions and to prepay any existing Term Loan amounts outstanding on the timeline described, with the terms anticipated, or at all and whether the Company remains cash flow positive and profitable on a non-GAAP basis. Actual results could differ materially from those projected in forward-looking statements depending on a variety of factors. These include that the closing of the transactions is subject to closing conditions. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's reports on Forms 10-K and 10-Q, as well as other reports that 8x8 files from time to time with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and 8x8 undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
此新聞發佈含有《1995年民事訴訟改革法》和《1934證券交易法》第21E節規定的"前瞻性陳述"。任何不屬於歷史事實陳述都可能被視爲前瞻性陳述。例如,像"可能","將","應","估計","預測","潛在","繼續","策略","相信","預計", "打算"和類似詞彙的詞彙旨在標識前瞻性陳述。除了公司依據信貸協議和基金協議提前償還所有現有的 Term Loan 金額的時間表,情況預計或根本無法按照預期的方式、或者無法按任何方式實現,公司還將達成這些前瞻性陳述的實際結果因各種因素而異。包括尚未達成交易的交易受到交易批准的影響、資產的重要耗損、產品的生產和市場化外部合同的準時交付或實現、項目的不斷變革和擴展、滿足某些規定的法院判決、增長率的不斷變化、政府貸款撥付的結果是否符合預期、國內和國際市場的因素、以及公司的實際先進技術(或缺乏類型)和其他因素可能導致實際結果與預期結果的差異。公司的報告。基於各種因素的風險和不確定性,會導致實際結果與前瞻性陳述中包含的結果不同。在公司的報告和提交給證券交易委員會的其他報告中,公司介紹了可能導致實際結果發生變化的因素。所有前瞻性陳述都經過這一警告陳述的完整限制,本公司不會公開披露任何前瞻性陳述的所有內容,除非根據法律要求或其他事件的緣由需要公開。
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