The Trade Desk, a global technology platform for buyers of advertising, closed a $125 million revolving credit facility secured through a lending syndicate led by Citibank.
The transaction closed at the end of the first quarter of 2016 and, upon the fulfillment of certain conditions, includes an accordion option to expand the facility to $175 million.
The credit facility is expected to be used for the company’s global expansion initiatives and for working capital and follows a $60 million equity round with Wellington Management Company, an investment management firm headquartered in Boston, announced earlier this year.
Four banks participated in the credit facility transaction: Citibank, U.S. Bancorp, East West Bancorp and City National Bank, a wholly owned subsidiary of Royal Bank of Canada.
“This credit facility further enables our global expansion plans and, along with our recent equity round, will help us make our vision for our company a reality,” said Jeff Green, founder and CEO Ventura, CA-based The Trade Desk.