Latham & Watkins Advises Initial Purchasers in LendingTree’s US$500 Million Convertible Senior Notes Offering

LendingTree, Inc., a leading online loan marketplace, has announced the pricing of its private offering of US$500 million aggregate principal amount of its .50% convertible senior notes due 2025. The Company also granted the initial purchasers an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$75 million aggregate principal amount of notes. The sale of the notes to the initial purchasers is expected to settle on or about July 24, 2020, subject to customary closing conditions, and is expected to result in approximately US$486.6 million in net proceeds to the Company, after deducting the initial purchasers' discount and estimated offering expenses payable by the Company (assuming no exercise of the initial purchasers' option) but before deducting the net cost of the convertible note hedge and warrant transactions.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partners Greg Rodgers and Stelios Saffos, with counsel Arash Aminian Baghai and associates Ryan Gold, Will Clark, and Regan Devers. Advice was also provided on equity derivative matters by New York partner Reza Mojtabaee-Zamani, with associates Christopher Yu and Kate Kim; and on tax matters by New York partner Elena Romanova, with associate Ron Moore.