Mar
30
Dropbox Secures $600 Million Credit Line Ahead of Expected IPO
ByThe debt facility provides flexibility as the cloud-storage company explores a public offering as soon as this year.
Dropbox Inc. is opening a $600 million credit facility from six banks led by JPMorgan Chase & Co., said people familiar with the plans, as the cloud file-sharing startup pushes toward an initial public offering as soon as this year.
The line of debt has commitments from the banks and is expected to close on Monday, said the people, who asked not to be identified because the deal isn’t finalized. The financial security provides Dropbox with flexibility as it deliberates an IPO…
Dropbox Secures $600 Million Credit Line Ahead of Expected IPO
