LendingTree, Inc. (TREE) has closed a $475 million credit facility comprising a $400 million five-year Term Loan B and a $75 million revolving credit line.
This financing replaces the company's prior Term Loan B due 2028 and Apollo loan agreement, enhancing its capital structure and reducing costs.
The new facility, arranged by Bank of America and Truist Securities, offers interest rates of SOFR + 450 bps for the term loan and SOFR + 350 bps for the revolver, with a 25-basis-point reduction available if Moody's grants a B2 stable rating.
Proceeds will refinance existing debt and support general corporate purposes. Fewer restrictive covenants now allow share repurchases and strategic investments, while the revolver adds liquidity and operational flexibility.
CFO Jason Bengel noted the refinancing will lower interest expense, streamline the balance sheet, and provide greater flexibility to invest and return capital to shareholders.
CEO Doug Lebda emphasized that the transaction strengthens LendingTree's financial foundation and positions the company for growth and long-term value creation.
TREE currently trades at $65.57 or 3.84% higher on the NasdaqGS.
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September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.