#United States #Charlotte #LendingTree #Credit Facility #Charlotte NC

LendingTree Secures a New $475 Million Credit Facility

LendingTree, Inc., the top online financial services marketplace in the United States, recently announced its successful closure of a $475 million credit facility. This consists of a new $400 million five-year Term Loan B alongside a $75 million revolving credit facility. The acquisition replaces the company's existing Term Loan B, set to mature in 2028, and the previous loan agreement with Apollo, marking a significant leap forward for LendingTree’s financial framework.

Chief Financial Officer Jason Bengel expressed enthusiasm for this development, stating, "This transaction marks a major milestone in our ongoing efforts to enhance our financial foundation." Indeed, this new financing is expected to significantly lower interest expenses and eliminate various restrictive covenants imposed by prior agreements. This not only rewards shareholders through a reduced cost of capital but also better reflects the company’s improved growth trajectory.

As LendingTree looks to the future, this new facility provides not just operational flexibility but also opens doors for potentially repurchasing shares while continuing to invest back into the business. The company is set to enjoy greater maneuverability when it comes to executing their growth strategies, thus further enhancing shareholder value.

The facility was led by Bank of America, acting as the lead left arranger and bookrunner, alongside Truist Securities in a joint capacity. Notably, the key terms of the agreement include the following:

• - A $400 million Term Loan B and a $75 million Revolving Credit facility, both scheduled to mature in five years.
• - An interest rate set at SOFR + 450 bps for the Term Loan and SOFR + 350 bps for the Revolver.
• - A provision for a 25-basis point reduction in the interest margin contingent upon achieving a B2 rating with a stable outlook from Moody’s.
• - The funds will be utilized to refinance existing debt and for general corporate purposes.
• - Noteworthy reductions in restrictive covenants lead to the removal of minimum cash and AEBITDA requirements linked to the Apollo loan.
• - Enhancement of liquidity and operational flexibility through the revolving credit facility.

Chairman and CEO Doug Lebda reiterated the strategic importance of this refinancing move by commenting, "This refinancing is a strategic move that strengthens our balance sheet and gives us the flexibility to execute on our long-term vision." Being in a more robust position allows LendingTree to grow its business ambitively, while actively pursuing new opportunities that align with their mission to drive long-term shareholder value.

Additional details about this significant transaction can be found in the Company's Form 8-K, which was recently submitted to the U.S. Securities and Exchange Commission on August 21, 2025. While the results seem promising, the management acknowledges that these are forward-looking statements. They emphasize that there are uncertainties regarding whether LendingTree will indeed achieve its objectives, suggesting stakeholders stay informed through updated filings.

Since its inception, LendingTree has built a reputation as one of the largest and most experienced online financial platforms in the country, aiming to empower consumers to enhance their financial situations. With access to a vast network of around 430 financial partners, LendingTree enables customers to explore the best offers available on loans, credit cards, and insurance. With the backing of innovative products and personalized financial guidance, the platform has effectively helped millions navigate their financial journeys. Positioned in Charlotte, NC, LendingTree remains committed to fostering financial success for consumers nationwide.