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. The funds will be used for general corporate purposes,
which may include repayment of existing debt.
LendingTree CFO Trent Ziegler
said, "This financing with Apollo Funds represents a critical step
in the growth trajectory of our business as we build on the
significant progress to-date in streamlining our company and
fortifying our balance sheet while we continue to innovate on
behalf of our customers and partners. 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."
About LendingTree, Inc.
LendingTree, Inc. is
the parent of LendingTree, LLC and several companies owned by
LendingTree, LLC (collectively, "LendingTree").
LendingTree is one of the nation's largest, most experienced
online financial platforms, created to give consumers the power to
win financially. LendingTree provides customers with access to the
best offers on loans, credit cards, insurance and more through its
network of approximately 500 financial partners. Since its
founding, LendingTree has helped millions of customers obtain
financing, save money, and improve their financial and credit
health in their personal journeys. With a portfolio of innovative
products and tools and personalized financial recommendations,
LendingTree helps customers achieve everyday financial wins.
LendingTree, Inc. is headquartered in Charlotte, NC.
LendingTree Cautionary Note Regarding Forward-Looking
Statements
The matters contained in the discussion above may be considered
to be "forward-looking statements" within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent, belief or
current expectations or anticipations of LendingTree and members of
our management team, and there can be no assurance that LendingTree
will achieve its objectives. For further discussion of risks and
uncertainties relevant to LendingTree's business, please see
LendingTree's most recent Form 10-K filed with the U.S. Securities
and Exchange Commission. LendingTree undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results or expectations.
Investor
Relations:
investors@lendingtree.com
Media
Relations:
press@lendingtree.com
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SOURCE LendingTree, Inc.