Taboola repurchases $61.3 million of loan at 99 via Dutch auction

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – Taboola.com Ltd. repurchased and retired $61.3 million in principal amount of outstanding debt under its $300 million senior secured term loan credit facility on Dec. 21, according to a 6-K filing with the Securities and Exchange Commission.

The repurchase was made in the open market at 99% of par, or approximately $60.7 million, plus interest, in a Dutch auction. It was funded with available cash and is expected to save about $5 million or $6 million a year in interest cost.

After giving effect to the transaction, there is about $236 million of debt outstanding under the term loan.

Taboola is a New York-based platform that powers recommendations for the open web.

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