Akamai plans 2.2 billion dollars of convertible notes in two tranches

Akamai Technologies said on Monday it intends to offer $1.1 billion of convertible senior notes due 2028 and $1.1 billion due 2031 in a private placement to qualified institutional buyers, days after amending its credit agreement to raise its maximum leverage covenant to 6.25 times.

Why it matters: The paired moves, $2.2 billion of new convertible debt and a temporarily looser bank covenant stepping back down to 3.75 times by early 2028, give Akamai a funded window of balance sheet flexibility while its lenders take a smaller general basket for secured subsidiary debt in exchange.

Data as of Akamai Technologies Form 8-K filed November 9, 2026 (accession 0001193125-26-452631), read in full from the SEC filings lane cache in this run; every figure comes from the filing itself. Developing item.

Akamai Technologies announced on Monday that it intends to offer $1.1 billion of convertible senior notes due 2028 and $1.1 billion of convertible senior notes due 2031, in a private offering to qualified institutional buyers, subject to market conditions. The announcement, carried in Item 8.01 of its Form 8-K, follows a November 5 amendment to the company’s credit agreement that raises its maximum consolidated leverage ratio covenant to 6.25 to 1.00 for the periods ending December 2026 and March 2027, stepping down through 5.75, 5.00 and 4.50 to 3.75 to 1.00 by the period ending March 2028.

The same amendment cuts the general basket for secured subsidiary indebtedness and liens from 10 percent of consolidated total assets to 3.5 percent through March 2028. JPMorgan Chase Bank is administrative agent on the facility.

Akamai plans 2.2 billion dollars of convertible notes in two tranches

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