As of June 29, 2021, Salesforce announced a senior notes offering in amount of $8 billion to finance the cash portion of the transaction. In February 2021, the Company elected to further reduce its Bridge Facility commitments to $4 billion. for a $10 billion senior unsecured 364-day bridge loan facility, which were subsequently reduced to $7 billion in December 2020 following salesforce entering into a $3 billion three-year senior unsecured term loan agreement. Salesforce has obtained a commitment from Citigroup Global Markets Inc., Bank of America, N.A. Salesforce expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on Salesforce's balance sheet. Each option, restricted stock unit award and each Slack restricted share award will be converted to receive the merger consideration. Under the terms of the deal, each share of Slack Technologies will be converted into right to receive 0.0776 shares of Salesforce common stock and the right to receive $26.79 in cash. (NYSE:WORK) for $28.2 billion on December 1, 2020. (NYSE:CRM) entered into an agreement to acquire Slack Technologies, Inc.
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