RetailMeNot upsizes revolving, term loan commitments with Comerica

By Susanna Moon

Chicago, Dec. 29 – RetailMeNot Inc. lifted its revolving credit facility commitments to $125 million and its term loan commitments to $50 million with 20% per year amortization, all of which was drawn.

The company amended its revolving credit and term loan agreement on Dec. 23 with Comerica Bank as administrative agent, lead arranger and bookrunner, according to an 8-K filing with the Securities and Exchange Commission.

The maturity was extended to five years from the amendment date.

The amendment provides for an additional uncommitted increase in the revolving credit facility of up to $65 million and for more ability to enter into domestic and foreign acquisitions.

The company said it also reduced the costs associated with borrowings under the facility.

Regions Bank is the syndication agent.

RetailMeNot operates digital coupon marketplace, connecting consumers with retailers and brands. The company is based in Austin, Texas.

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