Financing ·
Asana signs $150M senior secured revolving credit facility with Wells Fargo
ASANAsana, Inc.
Asana entered into a new $150 million senior secured revolving credit facility with Wells Fargo Bank, effective November 9, 2026. The facility includes sub-facilities for standby letters of credit up to $30 million and swingline loans up to $15 million, maturing on November 9, 2031. Interest rates are tied to term SOFR or base rate plus applicable margins ranging from 1.00% to 2.50%, depending on the company's leverage ratio. The agreement imposes financial covenants requiring a consolidated total net leverage ratio no greater than 3.25 to 1.00 and an interest coverage ratio of at least 3.00 to 1.00. Concurrently, Asana repaid in full its prior credit agreement with Silicon Valley Bank on November 6, 2026, terminating the previous facility and releasing associated guarantees and liens. The company operates in the software industry, providing work management platforms for organizations.