Blackstone Private Credit Line to Dropbox Raised to $2.7 Billion

Blackstone Inc. has expanded its private credit line for the file-sharing site Dropbox Inc. to $2.7 billion, nine months after striking the initial deal.

Dropbox increased its leverage by $700 million while authorizing a new $1.5 billion stock buyback plan, a filing and company statement show. Blackstone first put together a $2 billion private credit loan in December as part of the company’s stock repurchase program.

Read More: Blackstone Provides $2 Billion Loan to Dropbox for Buybacks

The added $700 million in delayed draw secured term loans could be used to repay the company’s outstanding convertible senior notes due ...