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Fly News Breaks for June 14, 2016
TREE
Jun 14, 2016 | 07:33 EDT
Noting that a number of alternative lenders have reportedly decided to reduce their spending on LendingTree, SunTrust says that the company's personal loans business could be negatively impacted. However, the firm says that personal loans account for less than 25% of the company's revenue, while the company has multiple businesses that are still growing at a "fair" pace. SunTrust cut its price target on the stock to $94 from $100 but keeps a Buy rating.
News For TREE From the Last 2 Days
TREE
Mar 27, 2024 | 16:18 EDT
LendingTree has secured up to $175M in financing in the form of a first lien term loan facility from funds managed by Apollo affiliates. LendingTree intends to draw $125M of the facility upon funding while the remainder will be available as a delayed draw during the following 12 months. The funds will be used for general corporate purposes, which may include repayment of existing debt.