8x8, Inc. Secures $200 Million Term Loan at Reduced Interest Rate [Yahoo! Finance]
8x8 Inc (EGHT)
Last 8x8 inc earnings: 2/4 04:05 pm
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Source: Yahoo! Finance
CAMPBELL, Calif., July 15, 2024 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 result in significant cash interest expense savings for the duration of the term loan.
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News
- 8x8 Wins Stevie® Awards in 2024 International Business Awards® for Continued Excellence in Professional Services [Yahoo! Finance]Yahoo! Finance
- 8x8 Wins Stevie® Awards in 2024 International Business Awards® for Continued Excellence in Professional ServicesBusiness Wire
- Contact Center Market to Grow by USD 161.73 Billion (2023-2027) as Cloud Adoption Soars, How AI is Driving Market Transformation - Technavio [Yahoo! Finance]Yahoo! Finance
- 8x8 CPaaS Named a Leader in Programmable Video Market by Industry ExpertBusiness Wire
- A Look Back at Video Conferencing Stocks' Q2 Earnings: 8x8 (NASDAQ:EGHT) Vs The Rest Of The Pack [Yahoo! Finance]Yahoo! Finance
EGHT
Earnings
- 8/7/24 - Beat
EGHT
Sec Filings
- 8/27/24 - Form 4
- 8/27/24 - Form 4
- 8/27/24 - Form 4
- EGHT's page on the SEC website