DocuSign closed a $500 million, five-year senior secured revolving credit facility. According to an 8K filed with the SEC, Bank of America is serving as administrative agent and L/C issuer for the facility, and BofA Securities and Silicon Valley Bank are serving as joint lead arrangers and joint bookrunners. The facility will be undrawn at closing and carries an accordion feature allowing for an additional $250 million of capacity, subject to customary terms and conditions.
“This transaction provides us with more flexibility on our balance sheet to deliver on our growth agenda. We are taking advantage of the favorable market environment to optimize our capital structure and strengthen our balance sheet,” Cynthia Gaylor, CFO of DocuSign, said.
DocuSign also launched a private offering of senior convertible notes.
