8x8, Inc. Secures $200 Million Term Loan at Reduced Interest Rate
8x8 Inc (EGHT)
Last 8x8 inc earnings: 2/4 04:05 pm
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Source: Business Wire
Proceeds to Fund Prepayment of Outstanding Balances Under Existing Term Loan Maturing August 2027 CAMPBELL, Calif.--(BUSINESS WIRE)--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.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
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EGHT
News
- 8x8 Extends AI-Powered 8x8 Intelligent Customer Assistant for Enhanced Voice and Digital Customer EngagementBusiness Wire
- 8x8, Inc. (NASDAQ: EGHT) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- 8x8 Named a Leader in the 2024 Gartner® Magic Quadrant™ for Unified Communications as a ServiceBusiness Wire
- The unified communication and collaboration market is projected to grow by USD 95.4 million from 2024-2028, with AI driving market evolution and rising demand for video and voice conferencing - Technavio [Yahoo! Finance]Yahoo! Finance
- QuEra Computing Strengthens Leadership Team with Appointment of Ed Durkin as Chief Financial OfficerGlobeNewswire
EGHT
Earnings
- 8/7/24 - Beat
EGHT
Sec Filings
- 10/17/24 - Form 4
- 10/16/24 - Form 144
- 10/16/24 - Form 4
- EGHT's page on the SEC website