"Dropbox Secures $700 Million Financing from Blackstone Credit & Insurance for Debt Repayment and Announces $1.5 Billion Share Repurchase"

"Blackstone Credit & Insurance has arranged additional delayed draw term loans for Dropbox, Inc., which will be used to repay outstanding convertible senior notes due in 2026. Additionally, Dropbox announced a new share repurchase authorization for $1.5 billion of its Class A common stock. The financing was supported by Latham & Watkins LLP, with a team led by Kevin Lynch."

In the recent transaction involving Dropbox, Inc., Latham & Watkins LLP represented Blackstone Credit & Insurance as the lead arranger and lead structuring agent. The transaction involved the issuance of additional delayed draw term loans, which are designated solely for the repayment of the company’s outstanding convertible senior notes due in 2026. Additionally, Dropbox, Inc. announced a new share repurchase authorization for the purchase of an additional US$1.5 billion of its Class A common stock. The legal team from Latham & Watkins LLP included Kevin Lynch (Partner, Debt Finance), Seán Farrell (Associate, Debt Finance), and Mary-Elizabeth Hayes (Associate, Debt Finance).

"Dropbox Secures $700 Million Financing from Blackstone Credit & Insurance for Debt Repayment and Announces $1.5 Billion Share Repurchase"

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