Taboola announced that it has entered into a new $270 million revolving credit facility. Concurrent with the closing, the Company used proceeds from the new facility to pay in full the $123.2 million of remaining outstanding principal and accrued interest under the prior term loan. Based on currently prevailing rates, the Company estimates the annual interest savings to be approximately $3 to $5 million. Other benefits of the new revolving credit facility include:
Increasing financial flexibility that can allow the company to hold a lower average debt balance and thereby create additional annual interest savings; Extending the company?s debt maturities to 2030; and Providing approximately $180 million in additional debt capacity for enhanced financial flexibility. Bank of America, N.A. acted as Administrative Agent; Citibank, N.A., London Branch and Valley National Bank acted as Syndication Agents; and Bank of America, N.A., Citibank, N.A., London Branch and Valley National Bank acted as Joint Bookrunners and Joint Lead Arrangers.
Taboola.com Ltd. is a technology company, which powers recommendations across the Open Web with an artificial intelligence (AI)-based, algorithmic engine. The Company’s platform, powered by artificial intelligence, is used by digital properties, including Websites, devices and mobile apps, to drive monetization and user engagement. Digital properties use the Company’s technology platforms to achieve their business goals, such as driving new audiences to their sites and apps or increasing engagement on site. It empowers advertisers to leverage its proprietary AI-powered recommendation platform to reach targeted audiences utilizing effective, native ad formats across digital properties. As part of its e-Commerce offerings, it also syndicates its retailer advertisers’ monetized product listings and links (clickable advertisements) into commerce content-oriented consumer experiences on both the Open Web and within the dominant traditional ad platforms.
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Investor
Investor
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Global
Global
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ESG MSCI
ESG MSCI
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