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Banking Syndicate Provides $600MM to Dropbox, Sources Say

March 31, 2017, 07:17 AM
Filed Under: Technology

Bloomberg is reporting that a group of banks has agreed to provide a $600 million debt facility to the cloud-storage firm Dropbox, Inc. as the company negotiates an anticipated IPO.

Citing sources familiar with the matter, Bloomberg notes that Dropbox sought the credit facility to replace an expiring $500 million credit facility that it inked with JPMorgan in 2014. The deal is expected to close on Monday.

JPMorgan Chase & Co. is leading the new round of financing, and is joined by Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc., Macquarie Group Ltd. and Royal Bank of Canada, sources tell Bloomberg.

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