Bird completes $450M debt recapitalization
Bird completed $450 million in debt financing comprising a $400 million term loan and a $50 million revolving credit facility.
J.P. Morgan, Capital One and Citi led the financing, with Mitsubishi UFJ Financial Group, Flagstar, Huntington and Silicon Valley Bank participating.
The transaction provides liquidity to existing shareholders, including current and former employees, through a dividend recapitalization.
Alongside the financing, Bird launched Agentic Harness to let AI agents communicate through messaging, calls and email using its communications infrastructure. The debt structure and shareholder liquidity purpose are distinct from the product launch.
Use of funds
Dividend recapitalization providing liquidity to current and former employee shareholders.