Akamai Expands Credit Facility, Plans $1.35 Billion Convertible Notes Offering

Akamai Technologies has amended its existing credit agreement, significantly expanding its revolving credit facility and adjusting key terms. The amendment, signed on May 12, 2025, doubles the revolving commitments from $500 million to $1 billion and extends the maturity date by one year to November 22, 2028. The amendment also eliminates any future increase options and reduces the number of permitted maturity extensions from two to one.

In a related announcement on May 13, Akamai revealed plans to offer $1.35 billion in Convertible Senior Notes due 2033 through a private placement to qualified institutional buyers. Proceeds from the offering are expected to support general corporate purposes, which may include repayment of existing debt, capital expenditures, and potential acquisitions.

These moves are part of Akamai’s strategy to strengthen liquidity and increase financial flexibility amid continued investment in edge computing and cybersecurity.