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Shutterfly readies launch of new term loan for Thursday
By Sara Rosenberg
New York, June 23 – Shutterfly LLC is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch a new senior secured term loan due Sept. 25, 2026, according to a market source.
Barclays is the left bookrunner and administrative agent on the deal.
Proceeds will be used to fund the acquisition of Spoonflower, a Durham, N.C.-based marketplace connecting makers and consumers with artists, for about $225 million.
Closing is expected in the third quarter, subject to regulatory approvals and customary conditions.
Apollo Global Management LLC is the sponsor.
Shutterfly is a Redwood City, Calif.-based manufacturer and seller of customizable photo-based products and services.
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