Magnite closes $175 million five-year revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Feb. 6 – Magnite Inc. closed a new $175 million senior secured revolving credit facility that matures in February 2029, according to a news release.

The company also closed its previously reported new $365 million senior secured covenant-lite first-lien term loan B due January 2031 (Ba3/BB-).

Proceeds from the new credit facilities were used to fully refinance the company’s existing senior secured $360 million term loan facility and $65 million revolving credit facility, and to pay fees and expenses associated with the transaction.

At Dec. 31, the revolver was undrawn.

Magnite is a New York-based sellside advertising company.

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