LendingTree, Inc. (TREE): debt financing — LendingTree enters $475M first lien credit facility with Bank of America and Truist

LendingTree, Inc.

Facility includes $400M term loans at SOFR+450bps (step-down to +425bps upon B2 rating) and $75M revolver at SOFR+350bps.
Five-year maturity; proceeds to refinance existing Truist/Apollo facilities and for working capital.
Financial covenant: first lien net leverage ratio ≤5.0x, tested quarterly when revolver drawn ≥$20M.
Mandatory prepayment: asset sale sweep above $50M, 50% excess cash flow sweep (step-down to 0% at <2.5x leverage).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LendingTree, Inc. incurred credit facility of $475 million first lien term loan facility with Bank of America, N.A., as administrative agent at SOFR plus 450 basis points maturing five years.

Instrument: credit facility
Principal: $475 million first lien term loan facility
Counterparty: Bank of America, N.A., as administrative agent
Rate: SOFR plus 450 basis points
Maturity: five years
Event: incurrence

Exact text from the filing

On August 21, 2025, LendingTree, Inc. (NASDAQ: TREE) (the "Company") entered into a $475 million first lien term loan facility (the "Facility") with Bank of America, N.A., as administrative agent (the "Agent"), and Bank of America, N.A. and Truist Securities, Inc., as joint lead arrangers.

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LendingTree, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-25-006382

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