Silver Point Capital, a global leader in credit investing, announced that its Direct Lending business has led the financing supporting the previously announced acquisition of Brightcove, a U.S.-based streaming technology company, by Bending Spoons, the Italy-based technology company.
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In connection with its $233 million acquisition of Brightcove, which has closed, Bending Spoons has raised a $600 million secured term loan to fund the transaction and to add cash to the balance sheet primarily to support future acquisitions and investments. Silver Point served as lead lender and Documentation Agent on the secured term loan. J.P. Morgan was Lead Left Arranger and Administrative Agent on the loan.
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Anthony DiNello, Head of Direct Lending at Silver Point Capital, said, “Silver Point is excited to support the growth of another successful, founder-owned business. Bending Spoons is executing a smart, differentiated strategy that has generated strong performance and growth, and we are pleased to provide the company with this secured term loan – representing its first institutional debt financing – to execute its planned acquisition strategy. Throughout this process, the Bending Spoons team has been highly collaborative – in keeping with their backgrounds as excellent operators and their data-driven and transparent approach to management.”
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About Bending Spoons
Bending Spoons has served a billion people across the globe through its suite of digital technology businesses, including Evernote, Issuu, Meetup, Remini, StreamYard, Splice, and WeTransfer. Its products are currently used by more than 300 million people each month.
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source – businesswire
