Grindr amended, extended and upsized its syndicated revolving credit and term loan facility from $350 million to $600 million. The term loan A was upsized by $100 million to $400 million, while the revolving credit facility was upsized by $150 million to $200 million, and the maturities were extended from November 2028 to January 2031.
Proceeds will be used to refinance existing debt and for general corporate purposes. At closing, Grindr will add approximately $112 million of cash to its balance sheet, with the revolving credit facility remaining undrawn, resulting in approximately $312 million of total additional liquidity.
“We are pleased to successfully execute this transaction with the support of our existing bank group including J.P. Morgan, Bank of America, Capital One, Citizens Bank and Silicon Valley Bank, along with two new lender partners, U.S. Bank and Wells Fargo,” John North, chief financial officer of Grindr, said. “The upsized facility provides us with enhanced liquidity and an extended duration, and will provide further support to long-term growth investments.”
