WS Investor
25 Mar 2025, 16:06
Robinhood Expands Credit Facility and Appoints New Board Member
Robinhood Markets, Inc. has amended its existing revolving credit agreement, increasing the total borrowing capacity from $2.25 billion to $2.65 billion, with a potential expansion to $3.975 billion. The updated agreement, entered into on March 21, 2025, with JPMorgan Chase Bank as administrative agent, features a 364-day term and tiered tranches backed by various RHS assets. Interest rates range from Daily Simple SOFR plus 0.10% to higher fixed spreads, depending on the tranche.
In governance updates, Robinhood appointed **John Hegeman** as an independent director, expanding the board to 10 members. Hegeman also joins the Safety, Risk and Regulatory Committee. His appointment was announced in a company blog post on March 25.
The company highlighted its ongoing use of its investor relations site and newsroom for important disclosures under Regulation FD.
Robinhood Markets, Inc. has amended its existing revolving credit agreement, increasing the total borrowing capacity from $2.25 billion to $2.65 billion, with a potential expansion to $3.975 billion. The updated agreement, entered into on March 21, 2025, with JPMorgan Chase Bank as administrative agent, features a 364-day term and tiered tranches backed by various RHS assets. Interest rates range from Daily Simple SOFR plus 0.10% to higher fixed spreads, depending on the tranche.
In governance updates, Robinhood appointed **John Hegeman** as an independent director, expanding the board to 10 members. Hegeman also joins the Safety, Risk and Regulatory Committee. His appointment was announced in a company blog post on March 25.
The company highlighted its ongoing use of its investor relations site and newsroom for important disclosures under Regulation FD.
