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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

RingCentral Expands and Extends Credit Agreement

Primary use of proceeds will be to settle the outstanding 2026 Convertible Notes

Pushed out next remaining debt maturities to 2030

RingCentral, Inc. (NYSE: RNG), a global leader in AI-powered business communications, today announced the expansion and extension of its existing credit agreement (the “Restated Credit Agreement”). The transaction was led by Bank of America and JPMorgan with other participants including Wells Fargo, Goldman Sachs, Morgan Stanley, and Mizuho, among others. The expanded credit facility now totals $1.24 billion, of which $930 million remains undrawn. The Company intends to use the proceeds primarily to address its $609 million Convertible Notes due in March 2026, as well as to reduce overall borrowing costs by opportunistically refinancing other outstanding debt.

Key highlights of the Restated Credit Agreement include:

  • Increase of the undrawn delayed draw term loan facility from $350 million to $650 million.
  • Increase in the undrawn revolving credit facility from $225 million to $280 million.
  • Reduction in interest rates for the entire credit facility, including the drawn $310 million term loan.
  • Extension of maturities to 2030

“This is a proactive step to enhance our financial flexibility while securing more favorable terms,” said Vaibhav Agarwal, Chief Financial Officer of RingCentral. “With this additional capacity, we intend on fully addressing our 2026 Convertible Notes. Importantly, following this transaction, we expect to have no further debt maturities until 2030. This refinancing maintains our current leverage profile, and with strong free cash flows, we’re well-positioned to execute on our capital allocation priorities, including reducing debt, repurchasing stock, and investing in innovation. This transaction also represents a strong vote of confidence from leading global financial institutions and follows recent credit rating upgrades from both Fitch Ratings and Moody’s, underscoring the continued strength of our financial position.”

About RingCentral

RingCentral is a global leader in AI-powered business communications, contact center, conversational intelligence, video and hybrid event solutions. RingCentral empowers businesses with conversation intelligence and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of hundreds of thousands of customers and millions of users worldwide. Visit ringcentral.com to learn more.

© 2025 RingCentral, Inc. All rights reserved. RingCentral, RingCX, and the RingCentral logo are trademarks of RingCentral, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements,” including but not limited to, statements regarding our use of proceeds, repayment of 2026 Convertible Notes, refinancing and reducing overall debt, the length of debt maturities, expectations around borrowing costs, and other capital allocation priorities such as share repurchases and investments in innovation. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Descriptions of the important factors that could cause actual results to differ materially from those in any forward-looking statements are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time. All forward-looking statements in this press release are based on information available to RingCentral as of the date hereof, and, except as required by law, we undertake no obligation to update these forward-looking statements.

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