By Devika Patel
Knoxville, Tenn., March 14 – Spark Networks, Inc. settled a $100 million loan agreement on March 11, according to an 8-K filed with the Securities and Exchange Commission. Moelis & Co. LLC was the agent.
The loan matures in 2027 and bears interest at the one-month Libor plus 750 basis points or the reference rate plus 650 bps.
Morrison & Foerster LLP was legal counsel.
Proceeds were used to repay the company’s existing $85.6 million term loan facility.
Spark is a Beverly Hills, Calif.-based online personals services provider.
| Issuer: | Spark Networks, Inc.
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| Issue: | Loan
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| Amount: | $100 million
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| Maturity: | 2027
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| Coupon: | One-month Libor plus 750 bps or the reference rate plus 650 bps
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| Warrants: | No
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| Agent: | Moelis & Co. LLC
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| Legal counsel: | Morrison & Foerster LLP
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| Settlement date: | March 11
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| Distribution: | Private placement
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