Trending...
- Inkdnylon Custom Apparel Launches Cost-Saving System for Promotional Products and Custom Apparel in Chicago
- Heritage at Manalapan Introduces New Single-Family Home Community in One of Monmouth County's Most Desirable Locations
- U.S. Government Contracts in Excess of 38 Million Secured Through Partner, Establishing Multi-Year Defense Revenue Platform Through 2032: $BLIS
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."
More on ncarol.com
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.
More on ncarol.com
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:
[email protected]
Media Relations:
[email protected]
SOURCE LendingTree, Inc.
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."
More on ncarol.com
- K4Connect launches K4IQ™, an intelligence layer on FusionOS turning data into actionable insights
- Atelier 4 Appoints Museum Logistics Expert Heather Haldeman as Senior Client Advisor
- AI Disruption Meets Marine Scale: Off The Hook YS, Inc. (N Y S E American: OTH) Targets Breakout Growth with NextBoat Launch and Aggressive Expansion
- Targeting the Billion-Dollar U.S. Countermeasure Market With AI-Driven Biodefense Platform: Lunai Bioworks (N A S D A Q: LNAI)
- New Global Standard for Transparency Across Critical Resources and Energy Markets: SMX (Security Matters) PLC (N A S D A Q: SMX)
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.
More on ncarol.com
- Forced Psychiatric Hospitalization Fails Vulnerable People: CCHR Urges Repeal Amid Rising U.S. Policies
- Surging Into High-Performance AI With $AMD Partnership, Patent Expansion, and Strengthened Balance Sheet: Avalon GloboCare Corp. (N A S D A Q: ALBT)
- Kiko Nation Launches Mobile App to Modernize Livestock Management and Digital Animal Registry
- NEW MANAGEMENT BOOK: Creating a Joy-Centric Culture
- Alternative Singer Songwriter Big Bus Dream, Proudly Releases, Passionate Decay
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:
[email protected]
Media Relations:
[email protected]
SOURCE LendingTree, Inc.
0 Comments
Latest on ncarol.com
- JEGS Launches Modern, Secure Payments Powered by PhaseZero.ai
- 21 Days: The Malta Deadline That Could Redraw the Finnish Online Casino Map
- U.S. Government Contracts in Excess of 38 Million Secured Through Partner, Establishing Multi-Year Defense Revenue Platform Through 2032: $BLIS
- New Report Reveals Surprising Trends in Ohio Airport Accidents
- Why Your Berberine Failed: RevGenetics Unveils the Absorption Gap Solution
- WCC Kitchens and Cabinets Featured on Selling Houses Australia
- Cat Hunt Simulator : Burrow & Pounce Lands on the App Store
- Shincheonji Marks 42nd Anniversary: From a Basement to a Denomination Growing by Tens of Thousands Annually
- Jackets for Jobs Hosts Smart & Sexy® Day Detroit for Women's History Month
- Celebrate Wilbur Wright's Birthday With The First Flight Society On Thursday, April 16th!
- Tint Academy Training in Dallas Texas: Learn Window Tint & PPF Installation
- $IBG accelerates toward transformative merger with BlockFuel as $6 million raise fuels dual-industry growth strategy: N A S D A Q: IBG
- High-Growth Power Infrastructure Play Targets AI Boom: 1606 Corp. Executes Aggressive Texas Expansion Strategy: 1606 Corp. (Stock Symbol: CBDW) $CBDW
- Accelerating the Transformation into a U.S. Nuclear Fuel Cycle Leader: Frontier Nuclear and Minerals Inc. (N A S D A Q: FNUC)
- Ozz Metals Ltd Secures 1-Tonne Gold Offtake Agreement
- Jet Set: The Ultimate Coachella Afterparty
- Heritage at Manalapan Introduces New Single-Family Home Community in One of Monmouth County's Most Desirable Locations
- Compliant Workspace announces partnership with Blackpoint Cyber
- Michigan Homeowners Urged to Act on Rising Basement Waterproofing Needs Amid Severe Flood
- Event Solutions Enters New Era: Announces New Leadership