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Bending Spoons Enhances Terms for $1.35 Billion AOL Buyout Financing

Summary generated with AI, editor-reviewed
Heartspace News Desk
Source: Bloomberg.com
TL;DR

Bending Spoons, an Italian technology company, has improved its financing terms for a $1.35 billion acquisition package intended to fund the purchases of AOL, Vimeo, and Eventbrite. The financing terms now include dollar and euro-denominated loans with rates of 587.5 basis points above the SOFR and Euribor benchmarks, respectively.

Key takeaways

  • Italian technology firm Bending Spoons has reportedly enhanced the terms of its acquisition financing package, potentially valued at $1
  • 35 billion, according to Bloomberg
  • The company is seeking this capital to fund the acquisitions of AOL, Vimeo, and Eventbrite
Italian technology firm Bending Spoons has reportedly enhanced the terms of its acquisition financing package, potentially valued at $1.35 billion, according to Bloomberg. The company is seeking this capital to fund the acquisitions of AOL, Vimeo, and Eventbrite. Sources familiar with the transaction indicate that the revised terms include a dollar loan offering at 587.5 basis points above the Secured Overnight Financing Rate (SOFR) benchmark. For a euro-denominated loan, Bending Spoons is proposing a rate of 587.5 basis points over the Euribor benchmark.

Related Topics

Bending SpoonsAOLacquisitionfinancinginvestmenttech startup

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