LendingTree, an online loan marketplace, announced it has entered into an amended and restated $250 million five-year senior secured revolving credit facility that will replace LendingTree's previous $125 million credit agreement.  The amended and restated revolving credit facility provides increased borrowing capacity and improved pricing, along with greater strategic and operational flexibility. The facility can be used to finance working capital needs, permitted acquisitions, capital expenditures, and general corporate purposes.

The amended and restated revolving credit facility will be governed by a maximum net leverage covenant of 4.50x, with step downs to 4.00x over time. Additionally, the amended credit facility contains an accordion feature under which the borrowing capacity can be increased by $100 million or a greater amount, subject to certain conditions.  As of November 28, 2017, the Company does not have any borrowings outstanding under the amended and restated revolving credit facility. SunTrust Robinson Humphrey, Inc. acted as Sole Arranger and Bookrunner on the revolving credit facility. SunTrust Bank will also serve as the Administrative Agent.

"The increased facility capacity and the extended maturity are a culmination of the financial transformation LendingTree has made over the past few years," said Doug Lebda, LendingTree's Chairman and Chief Executive Officer.  "This amendment underscores the confidence and support shown by our lenders, provides us with increased financial flexibility and positions us well for future growth."