Robinhood Markets, Inc. announced its Board of Directors has approved a new $1.5 billion share repurchase program. Additionally, its subsidiary, Robinhood Securities, LLC, has entered into an amended credit agreement, increasing its 364-day senior secured revolving credit facility to $3.25 billion from $2.65 billion.
Key Details
- Share Repurchase Program: The new $1.5 billion program replaces prior authorizations and represents over $1.1 billion in incremental capacity. Management expects to execute the repurchases over approximately three years, beginning in the first quarter of 2026.
- Credit Facility Upsize: On March 20, 2026, Robinhood Securities, LLC amended its credit agreement, increasing the total commitment to $3.25 billion. The facility, led by JPMorgan Chase Bank, N.A., can be increased by an additional $1.625 billion for a potential total of $4.875 billion.
- Credit Facility Terms: Borrowings will bear interest based on SOFR or other benchmark rates plus a margin of 1.25% to 2.50% depending on the loan tranche. Undrawn commitments will accrue fees at a rate of 0.45% per annum.