FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Citibank Arranges $200MM Working Capital Facility for The Trade Desk

May 11, 2017, 07:18 AM
Filed Under: Technology

The Trade Desk, Inc., a provider of a global technology platform for buyers of advertising, announced that it has entered into a $200 million, 5-year senior secured credit facility. Citibank N.A., acted as lead arranger and administrative agent, with City National Bank, East West Bank, US Bank, Union Bank and Bank Hapaolim as additional lenders.

The facility amends and restates the company's current outstanding credit facility. The facility enables the company to borrow up to $200 million on a revolving basis at an annual rate of either prime or LIBOR, plus an applicable margin. The facility is for working capital, acquisitions and other general corporate purposes.

The credit facility contains customary affirmative and negative covenants, as well as a springing financial covenant based upon the Company's availability under the credit facility. The Company intends to provide additional information regarding the credit facility in the Company's future reports to be filed with the Securities and Exchange Commission.

"We are really pleased to close on this secured credit facility at very attractive interest rates in an oversubscribed deal from such a strong group of lenders," said Paul Ross, Chief Financial Officer of The Trade Desk. "This revolver will provide the Company with financial flexibility to facilitate our growth, manage working capital and support corporate objectives."

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.