Outbrain prices $637.5M senior secured notes at 10% due 2030 to refinance Teads bridge facility

Teads Holding Co.

Offering increased to $637.5M from $625M at 98.087% issue price, 10.000% coupon.
Closing expected Feb 11, 2025; proceeds repay bridge facility plus fees.
Notes guaranteed by Outbrain and subsidiaries, secured by first-priority lien on assets.
Bridge facility debt used for Teads acquisition will be fully repaid and cancelled.

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