8x8, Inc. Announces $250 Million Senior Secured Term Loan Credit Facility in a Customized Capital Solution Led by Francisco Partners
New Facility Represents Strategic Investment by Francisco Partners; Proceeds Will Fund $60 Million Share Repurchase and Cash Portion of the Exchange of $404 Million Convertible Debt
8x8, Inc. (NYSE:EGHT) (the "Company" or "8x8"), a leading integrated cloud communications platform provider, today announced a new $250 million senior secured term loan facility in a transaction led by Francisco Partners. Under the credit agreement, the Company intends to use the facility to fund the cash portion of an exchange of approximately $404 million principal amount of the Company's 0.50% convertible notes due 2024 and the concurrent repurchase of approximately $60 million of the Company's common stock.
