India, Aug. 22 -- LendingTree, Inc. (TREE) has closed a $475 million credit facility comprising a $400 million five-year Term Loan B and a $75 million revolving credit line.
This financing replaces the company's prior Term Loan B due 2028 and Apollo loan agreement, enhancing its capital structure and reducing costs.
The new facility, arranged by Bank of America and Truist Securities, offers interest rates of SOFR + 450 bps for the term loan and SOFR + 350 bps for the revolver, with a 25-basis-point reduction available if Moody's grants a B2 stable rating.
Proceeds will refinance existing debt and support general corporate purposes. Fewer restrictive covenants now allow share repurchases and strategic investments, while the revolver adds ...