Cloudflare Enters Into Credit Agreement For $400M Senior Secured Revolving Loan Facility; Includes $30M Sublimit For Letters Of Credit And Swingline Borrowings; Option To Increase Commitments By Up To $150M
Portfolio Pulse from Benzinga Newsdesk
Cloudflare has entered into a credit agreement for a $400 million senior secured revolving loan facility, which includes a $30 million sublimit for letters of credit and swingline borrowings. The agreement also provides an option to increase commitments by up to $150 million.
May 21, 2024 | 8:37 pm
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Cloudflare has secured a $400 million senior secured revolving loan facility, which includes a $30 million sublimit for letters of credit and swingline borrowings, and an option to increase commitments by up to $150 million. This move strengthens Cloudflare's financial flexibility and liquidity.
The new credit agreement provides Cloudflare with significant financial flexibility and liquidity, which can be used for various corporate purposes including potential expansions, acquisitions, or other strategic initiatives. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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