MeridianLink, Inc. Completes Debt Refinancing with A New $435 Million, 7-Year Credit Facility
November 10, 2021 at 04:33 pm EST
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MeridianLink, Inc. announced that the Company has entered into a Credit Agreement, providing a Term Loan B Facility (the Facility) of seven years in the aggregate principal amount of $435 million and a $50 million revolving credit facility. Proceeds under the new Facility were used to terminate and pay all outstanding amounts due and payable under the Company?s existing senior secured first lien credit facility. The expected initial rate of the Facility will be approximately 3.50%. The Facility may be prepaid with a 1% call premium for the first 6 months, after which it may be prepaid, in whole or in part, without premium or penalty.
MeridianLink, Inc. is a provider of software platforms for financial institutions and consumer reporting agencies. The Companyâs cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink One, to enable customers of all sizes to identify growth opportunities, scale up, and support compliance efforts. Its lending software solutions provide a fully digital workflow for its customers, extending from their clientâs initial account opening applications to its customerâs final extension of credit and, where necessary, collections activity. It enables its customers to offer an array of products and services to new and existing clients. Its solutions address various categories of consumer lending, including mortgage, credit card, personal, auto, home equity, and others. It serves financial institutions, including banks, mortgage lenders, specialty lending providers, and others.