Taboola.com (TBLA) said Wednesday that it has entered a new $270 million revolving credit facility.
The company said it used the proceeds from the credit facility to pay off the remaining $123.2 million of outstanding principal and accrued interest on its previous term loan.
Taboola said the new credit facility provides increased financial flexibility allowing the company to maintain a lower average debt balance. It estimates it saves about $3 to $5 million annually in interest.
Additionally, the company said the facility extends its debt maturities to 2030 and provides $180 million in additional debt capacity for improved financial flexibility.
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