DocuSign Bolsters Balance Sheet with Revolving Credit Facility

Rhea-AI Summary

DocuSign announces the closing of a new $500 million revolving credit facility that will remain undrawn at closing. This five-year facility includes an accordion feature for an additional $250 million in capacity, subject to customary terms. CFO Cynthia Gaylor stated this move enhances financial flexibility, allowing the company to optimize its capital structure and support its growth agenda. Additionally, DocuSign launched a private offering of senior convertible notes.

Positive

• Establishment of a $500 million revolving credit facility enhances liquidity.
• Accordion feature enables potential increase of credit capacity by $250 million.

Negative

• None.

SAN FRANCISCO, Jan. 11, 2021 /PRNewswire/ -- DocuSign, Inc. (Nasdaq: DOCU) today announced the closing of a new $500 million, five year senior secured revolving credit facility. The facility will be undrawn at closing and carries an accordion feature allowing for an additional $250 million of capacity, subject to customary terms and conditions.

"This transaction provides us with more flexibility on our balance sheet to deliver on our growth agenda. We are taking advantage of the favorable market environment to optimize our capital structure and strengthen our balance sheet," remarked Cynthia Gaylor, Chief Financial Officer of DocuSign.

DocuSign also separately announced today the launch of a private offering of senior convertible notes.

Investor Relations:
Annie Leschin
VP Investor Relations
investors@docusign.com

Media Relations:
Adrian Wainwright
Head of Communications
media@docusign.com

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SOURCE DocuSign, Inc.

FAQ

What is the new credit facility amount announced by DocuSign on January 11, 2021?

DocuSign announced a new $500 million revolving credit facility.

What is the purpose of DocuSign's new credit facility?

The new credit facility enhances financial flexibility and supports DocuSign's growth agenda.

What additional capacity does DocuSign's credit facility offer?

The credit facility includes an accordion feature that allows for an additional $250 million in capacity.

Did DocuSign announce any other financial instruments on January 11, 2021?

Yes, DocuSign launched a private offering of senior convertible notes.