LOS ANGELES, CA — (Marketwired - May 9, 2016) - The Trade Desk, Inc., a global technology platform for buyers of advertising, announced details today regarding a $125 million revolving credit facility secured through a lending syndicate led by Citibank, N.A. The transaction closed at the end of the first quarter of 2016 and, upon the fulfillment of certain conditions, includes an accordion option to expand the facility to $175 million.
The credit facility is expected to be used for the company’s global expansion initiatives and for working capital, and follows a $60 million equity round with Wellington Management Company LLP, an investment management firm headquartered in Boston, announced earlier this year.
Four banks participated in the credit facility transaction, including Citibank, N.A.(NYSE: C), US Bancorp (NYSE: USB), East West Bancorp (NASDAQ: EWBC), and City National Bank, a wholly owned subsidiary of Royal Bank of Canada (NYSE: RY).
“This credit facility further enables our global expansion plans and, along with our recent equity round, will help us make our vision for our company a reality,” said Jeff Green, founder and CEO of The Trade Desk.
The Trade Desk is a technology company that empowers buyers of advertising. The Trade Desk provides a self-service platform that enables ad buyers to manage data-driven digital advertising campaigns using their own teams across various advertising formats, including display, video, and social, and on a multitude of devices, including computers, mobile devices, and connected TV.
Headquartered in Ventura, Calif., The Trade Desk has offices across the United States, Europe, and Asia.