LendingTree buys back $100 million of 0.5% convertibles due 2025

By Marisa Wong

Los Angeles, Dec. 6 – LendingTree, Inc. repurchased about $100 million of its outstanding 0.5% convertible senior notes due 2025, according to a press release.

In total, the company paid about $81.4 million in cash through separate and individually negotiated transactions with some holders to retire the notes.

In connection with the buyback of the 2025 notes, the company expects that a corresponding portion of the existing convertible note hedge and warrant transactions that it entered into with some financial institutions when the notes were issued in July 2020 will be terminated.

In connection with any such termination and the related unwind by those financial institutions of their related hedge positions, the company expects those financial institutions or their respective affiliates to sell shares of the company’s common stock in secondary market transactions or enter into or unwind various derivative transactions with respect to the company’s shares.

LendingTree is an online financial company with headquarters in Charlotte, N.C.

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