This press release contains a Credit Agreement dated May 21, 2025, involving DocuSign, Inc., its subsidiaries, and various financial institutions. The agreement provides for credit facilities, revolving loans, and term loans. The initial Aggregate Revolving Commitments under the agreement amount to $750,000,000.
The Applicable Percentage for each lender's Revolving Commitment is tied to the percentage of the Aggregate Revolving Commitments represented by the lender's commitment, subject to adjustments as provided in the agreement. The Applicable Rate for the loans varies based on the Consolidated Leverage Ratio and the Applicable Ratings, with different tiers determining the interest rates and commitment fees.
Furthermore, the press release outlines various definitions and accounting terms, including the meanings of "Acquisition," "Administrative Agent," "Affiliate," "Applicable Currency," and "Applicable Rate," among others. The press release also specifies the conditions precedent to credit extensions, representations and warranties, affirmative covenants, negative covenants, events of default and remedies, and miscellaneous provisions.
The market has reacted to these announcements by moving the company's shares -2.22% to a price of $84.61. If you want to know more, read the company's complete 8-K report here.
