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).

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