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LendingTree unit enters into $500M credit facility

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LendingTree unit enters into $500M credit facility

LendingTree LLC on Dec. 10 entered into a $500.0 million senior secured revolving credit facility that will mature Dec. 10, 2024.

The proceeds of this facility can be used to finance working capital needs, capital expenditures and general corporate purposes, including to finance permitted acquisitions. The company has borrowings of $75.0 million outstanding under the facility as of Dec. 10.

Up to $10.0 million of borrowings under the credit facility will be available for swingline loans, and up to $10.0 million will be available for the issuance of letters of credit. The LendingTree Inc. unit will be allowed, under certain conditions, to add one or more term loans and/or increase revolving commitments under the credit facility by an additional $185.0 million or a greater amount, as long as the senior secured debt to EBITDA ratio will not exceed 2.50-to-1.00.