BuzzFeed Inc. Announces New $40 Million Credit Agreement to Eliminate Convertible Debt and Repurchase Class A Common Stock

Reuters

27 May

BuzzFeed Inc. Announces New $40 Million Credit Agreement to Eliminate Convertible Debt and Repurchase Class A Common Stock

BuzzFeed Inc. has announced a new financial maneuver to eliminate its convertible debt obligations entirely. The company secured a $40 million term loan from Sound Point Agency LLC, which will provide increased financial flexibility and support for its business operations. A portion of the proceeds will be used to repay the outstanding convertible notes in full, effectively terminating BuzzFeed's convertible debt. Additionally, BuzzFeed plans to purchase 1,826,845 shares of its Class A common stock in a privately negotiated transaction, representing 4.9% of its outstanding shares. This strategic move aims to simplify BuzzFeed's capital structure and bolster its long-term growth initiatives.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BuzzFeed Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001828972-25-000139), on May 27, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Announces New $40 Million Credit Agreement to Eliminate Convertible Debt and Repurchase Class A Common Stock","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      BuzzFeed Inc. Announces New $40 Million Credit Agreement to Eliminate Convertible Debt and Repurchase Class A Common Stock\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        BuzzFeed Inc. has announced a new financial maneuver to eliminate its convertible debt obligations entirely. The company secured a $40 million term loan from Sound Point Agency LLC, which will provide increased financial flexibility and support for its business operations. A portion of the proceeds will be used to repay the outstanding convertible notes in full, effectively terminating BuzzFeed's convertible debt. 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Announces New $40 Million Credit Agreement to Eliminate Convertible Debt and Repurchase Class A Common Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-05-27 21:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      BuzzFeed Inc. 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ID: 0001828972-25-000139), on May 27, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250527:nNDL9Zp92q:1","article_id":"2538246176","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2538246176","pubTimestamp":1748352358,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BuzzFeed Inc. has announced a new financial maneuver to eliminate its convertible debt obligations entirely. 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