AKAMAI TECHNOLOGIES INC (AKAM) Form 8-K — Nov 9, 2026
$AKAMForm 8-KItems 1.01, 2.03, 8.01, 9.01Filed Nov 9, 2026, 7:10 AM ET0001193125-26-452631Original filing
Akamai announced on November 9, 2026 a proposed private offering of $1.1 billion of convertible senior notes due 2028 and $1.1 billion due 2031, with initial purchasers holding options for an additional $150 million per series. Proceeds are earmarked to repay at maturity a portion of Akamai's $1.15 billion 0.375% convertible notes due September 2027, fund convertible note hedges, and finance capex for its Cloud Infrastructure Services business. Separately, on November 5, 2026 Akamai entered Amendment No.
Key figures
- Debt Amount
- $1.1 billion 2028 notes + $1.1 billion 2031 notes
- Maturity Date
- 2028-11-15 (2028 Notes); 2031-11-15 (2031 Notes)
- Gross Proceeds
- $2.2 billion (up to $2.5 billion including initial purchasers' options)
- Greenshoe 2028 notes
- $150.0 million
- Greenshoe 2031 notes
- $150.0 million
- Covenant relief period
- November 5, 2026 through March 31, 2028
- Max leverage ratio q1 2028
- 3.75:1.00
- Max leverage ratio q2 2027
- 5.75:1.00
- Max leverage ratio q3 2027
- 5.00:1.00
- Max leverage ratio q4 2027
- 4.50:1.00
- Existing 2027 convertible notes
- $1.15 billion 0.375% notes due September 1, 2027
- Secured debt basket during relief
- 3.5% of consolidated total assets (down from 10%)
- Max leverage ratio q4 2026 q1 2027
- 6.25:1.00
AI analysis
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