LendingTree, Inc. (NASDAQ:TREE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
to Credit Agreement, dated as of May 23, 2017, among the Company,
its subsidiary, LendingTree, LLC, the lenders that are a party
thereto, and SunTrust Bank, as administrative agent (the Second
Amendment). The Second Amendment amends the Credit Agreement,
originally dated as of October 22, 2015, among the Company,
LendingTree, LLC, the lenders that are a party thereto, and Sun
Trust Bank, as administrative agent (the Original Credit Agreement
as amended, modified, or supplemented, the Credit Agreement). A
copy of the Original Credit Agreement is attached as Exhibit 99.1
to the Company’s Quarterly Report on Form 10-Q for the quarterly
period ended September 30, 2015 filed with the SEC on October 26,
2015. The Credit Agreement was previously amended by the First
Amendment to Credit Agreement, dated as of February 25, 2016, a
copy of which is attached as Exhibit 10.30 to the Companys Annual
Report on Form 10-K for the fiscal year ended December 31, 2016,
which was filed with the SEC on February 28, 2017.
transactions and convertible hedge transactions referred to in the
Press Release (as defined below) will constitute permitted
restricted payments under the Credit Agreement. In addition, the
Second Amendment provides that a real estate term loan we
anticipate entering into (the Specified Real Estate Finance
Transaction), will be permitted indebtedness for purposes of the
Credit Agreement. The Specified Real Estate Finance Transaction is
expected to consist of an aggregate principal amount of no more
than (a) $20.0 million which shall be used to finance all or a
portion of the purchase price of certain real estate purchased in
December 2016 and located in Charlotte, North Carolina, and (b)
$25.0 million which shall be used to finance post-acquisition
improvements to such real estate, related equipment, and related
hedging obligations. While the Company currently expects to enter
into the Specified Real Estate Finance Transaction during the
second or third calendar quarter of 2017, no assurances can be
provided regarding the timing of the closing of, or the precise
amount of indebtedness to be incurred in connection with, such
Specified Real Estate Finance Transaction.
affiliates have engaged in, and may in the future engage in, other
commercial dealings with the Company or its affiliates in the
ordinary course of business, including in connection with the
offering of the convertible senior notes referred to in the Press
Release. They have received, or may in the future receive,
customary fees and commissions for those transactions.
its entirety by reference to the Second Amendment attached as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
Release) announcing its intention to offer, subject to market and
other conditions, $200 million aggregate principal amount of its
convertible senior notes due 2022 in a private placement. A copy of
the press release is attached as Exhibit 99.2 to this Current
Report on Form 8-K and is incorporated herein by reference.
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Exhibit No.
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Exhibit Description
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99.1
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Second Amendment to Credit Agreement by and among
LendingTree, LLC, LendingTree, Inc. and SunTrust Bank, dated May 23, 2017. |
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99.2
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Press release, dated May 23, 2017.
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About LendingTree, Inc. (NASDAQ:TREE)
LendingTree, Inc. (LendingTree), formerly Tree.com, Inc., is engaged in operating an online loan marketplace for consumers. The Company offers a range of loan types and other credit-based offerings for its consumers. The Company operates through Lending activities segment. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans and small business loans, and other related offerings. It offers tools and resources, including free credit scores that facilitate comparison shopping for these loans and other credit-based offerings. It offers its products in categories, including mortgage products and non-mortgage products. Its mortgage products category includes its purchase and refinance products. The Company’s non-mortgage products include lending products and other products. LendingTree, Inc. (NASDAQ:TREE) Recent Trading Information
LendingTree, Inc. (NASDAQ:TREE) closed its last trading session up +0.85 at 157.60 with 126,948 shares trading hands.
