Bending Spoons prices $1.25 billion term loan add-on

MILAN - Bending Spoons, a digital business acquirer, has successfully priced an additional $1.25 billion and €395 million in senior secured term loans. These new additions to the company's existing U.S. dollar-denominated and euro-denominated loans, both due in 2031, surpass the initial targets of $750 million and €250 million. The syndication of these funds is contingent upon the completion of all necessary documentation and closing conditions.

The upgrades in credit ratings by Moody’s to Ba3 and S&P to BB- have contributed to the positive market response. Bending Spoons plans to utilize the raised capital to finalize its planned acquisition of Miro, repay the current euro revolving credit facility, and allocate funds towards general corporate expenditures. The company's roster of digital assets includes popular platforms such as Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo, and WeTransfer.