Adobe to Tap Debt Markets to Fund Figma-Deal Once It Has DOJ Approval
- The company seeks to fund Figma deal and 2025 maturities: CFO
- Adobe expects to hear back from DOJ in the coming months
Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images
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Adobe Inc. is looking to enter the investment-grade bond market later this year to help fund its planned purchase of Figma Inc. and refinance upcoming maturities in one go, Chief Financial Officer Dan Durn said.
The software company plans to issue bonds to finance the Figma transaction — which could include replacing its $3.5 billion delayed draw term loan — and $1.5 billion of bonds set to mature in 2025 around the closing date for the deal, Durn said in an interview on Thursday. Adobe wants to cover all its upcoming funding needs when it comes to the market and take out both short-and long-dated bonds, he added.