Dropbox Secures $2 Billion Loan Facility; Launches $1.2 Billion Share Buyback Plan

MT Newswires Live2024-12-11

Dropbox (DBX) said Wednesday that it has entered into a $2 billion secured term loan agreement due 2029, led by Blackstone (BX) division Blackstone Credit & Insurance, which also served as the lead arranger and structuring agent.

Dropbox said the loan includes an initial borrowing of $1 billion and a delayed draw option for an additional $1 billion. The proceeds will be used for working capital and general corporate purposes, such as share repurchases, the company added. The company said it had terminated its existing revolving credit and guaranty agreement, dated 2014.

The company said it has set up a $1.2 billion stock buyback program for its class A shares.

Dropbox said it expects to meet or exceed its Q4 and fiscal 2024 guidance.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490868603?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-11 22:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2490868603","market":"sg","top_or_hot":-1,"title":"Dropbox Secures $2 Billion Loan Facility; Launches $1.2 Billion Share Buyback Plan","media":"MT Newswires Live","content":"<html><body><p> Dropbox (DBX) said Wednesday that it has entered into a $2 billion secured term loan agreement due 2029, led by Blackstone (BX) division Blackstone Credit &amp; Insurance, which also served as the lead arranger and structuring agent.</p><p>Dropbox said the loan includes an initial borrowing of $1 billion and a delayed draw option for an additional $1 billion. The proceeds will be used for working capital and general corporate purposes, such as share repurchases, the company added. The company said it had terminated its existing revolving credit and guaranty agreement, dated 2014.</p><p>The company said it has set up a $1.2 billion stock buyback program for its class A shares.</p><p>Dropbox said it expects to meet or exceed its Q4 and fiscal 2024  guidance.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dropbox Secures $2 Billion Loan Facility; Launches $1.2 Billion Share Buyback Plan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDropbox Secures $2 Billion Loan Facility; Launches $1.2 Billion Share Buyback Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-11 22:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dropbox (DBX) said Wednesday that it has entered into a $2 billion secured term loan agreement due 2029, led by Blackstone (BX) division Blackstone Credit & Insurance, which also served as the lead ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2490868603","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490868603","pubTimestamp":1733927744,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Dropbox  said Wednesday that it has entered into a $2 billion secured term loan agreement due 2029, led by Blackstone  division Blackstone Credit & Insurance, which also served as the lead arranger and structuring agent.Dropbox said the loan includes an initial borrowing of $1 billion and a delayed draw option for an additional $1 billion. The proceeds will be used for working capital and general corporate purposes, such as share repurchases, the company added. The company said it had terminated its existing revolving credit and guaranty agreement, dated 2014.The company said it has set up a $1.2 billion stock buyback program for its class A shares.Dropbox said it expects to meet or exceed its Q4 and fiscal 2024  guidance.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BX":"黑石","BK4135":"资产管理与托管银行","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","BK4528":"SaaS概念","BK4023":"应用软件","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","BK4532":"文艺复兴科技持仓","IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","LU0444971666.USD":"天利全球科技基金","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","DBX":"Dropbox Inc.","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC"},"translate_title":"Dropbox获得20亿美元贷款；启动12亿美元股票回购计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BX":0.9,"DBX":0.9},"content_text":"Dropbox (DBX) said Wednesday that it has entered into a $2 billion secured term loan agreement due 2029, led by Blackstone (BX) division Blackstone Credit & Insurance, which also served as the lead arranger and structuring agent.Dropbox said the loan includes an initial borrowing of $1 billion and a delayed draw option for an additional $1 billion. The proceeds will be used for working capital and general corporate purposes, such as share repurchases, the company added. The company said it had terminated its existing revolving credit and guaranty agreement, dated 2014.The company said it has set up a $1.2 billion stock buyback program for its class A shares.Dropbox said it expects to meet or exceed its Q4 and fiscal 2024  guidance.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490868603"}