Brief: Redfin Says Funds Managed By Apollo Capital Management, L.P. And Its Affiliates Have Agreed To Commit Up To $250 Mln Of Financing For Co

Redfin

23/10/2023 21:24

Oct 23 (Reuters) - Redfin Corp  RDFN.O :
    * REDFIN CORP - FUNDS MANAGED BY APOLLO CAPITAL MANAGEMENT,
L.P.
AND ITS AFFILIATES HAVE AGREED TO COMMIT UP TO $250 MILLION OF
FINANCING FOR REDFIN
    * REDFIN CORP - REDFIN BORROWED HALF OF LOAN ON OCTOBER 20,
2023
AND REMAINDER WILL BE AVAILABLE AS A DELAYED DRAW DURING
FOLLOWING 12 MONTHS
    * REDFIN CORP - WILL USE CASH ON BALANCE SHEET TO
SIMULTANEOUSLY
REPURCHASE A PORTION OF COMPANY'S EXISTING CONVERTIBLE NOTES
    * REDFIN CORP: AS PART OF TRANSACTION, REDFIN HAS AGREED TO
REPURCHASE $5 MILLION PRINCIPAL AMOUNT OF ITS CONVERTIBLE NOTES
DUE IN 2025 HELD BY APOLLO
    * REDFIN CORP: TO REPURCHASE $72 MILLION PRINCIPAL AMOUNT OF
ITS
CONVERTIBLE NOTES DUE IN 2027 HELD BY APOLLO
    * REDFIN-ON OCT 19, BOARD INCREASED AMOUNT OF CASH
AUTHORIZED FOR
USE IN ITS EXISTING NOTE REPURCHASE PROGRAM FROM $300.0 MILLION
TO $450.0 MILLION IN AGGREGATE
    * REDFIN CORP - REPURCHASE PROGRAM INCLUDES BOTH OUR 2025
AND 2027
CONVERTIBLE SENIOR NOTES AND IS INCREMENTAL TO NOTES BEING
PURCHASED FROM APOLLO
    * REDFIN CORP - EXPECT TO FUND REPURCHASE PROGRAM FROM OUR
EXISTING CASH BALANCE AND FUTURE CASH FLOWS FROM OPERATIONS

Further company coverage:  RDFN.O 

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