LENDINGTREE ANNOUNCES $175 MILLION FINANCING FROM APOLLO FUNDS
CHARLOTTE, N.C., March 27, 2024 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) ("LendingTree" or the "Company"), operator of LendingTree.com, the nation's leading online financial services marketplace, today announced that it has secured up to $175 million in financing in the form of a first lien term loan facility (the "facility") from funds managed by Apollo affiliates (the "Apollo Funds").
- CHARLOTTE, N.C., March 27, 2024 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) ("LendingTree" or the "Company"), operator of LendingTree.com, the nation's leading online financial services marketplace, today announced that it has secured up to $175 million in financing in the form of a first lien term loan facility (the "facility") from funds managed by Apollo affiliates (the "Apollo Funds").
- LendingTree intends to draw $125 million of the facility upon funding while the remainder will be available as a delayed draw during the following 12 months.
- With an improved financial position, we believe the business is well positioned to capitalize on attractive opportunities across the LendingTree ecosystem."
- Apollo Partner Robert Givone said, "We are pleased to support LendingTree with this customized financing solution to enhance the Company's financial flexibility and better position it to navigate the current market environment."