Yext, a leading digital presence platform for multi-location brands, announced that it has closed a $200 million senior secured term loan facility with funds and accounts managed by BlackRock, offering the company with enhanced flexibility to support its growth initiatives and strategic objectives.
By proactively refinancing, Yext increased its access to capital while taking advantage of favorable market conditions to optimize its debt structure. And the facility provides additional flexibility to execute on the company’s long-term strategy while maintaining a disciplined approach to leverage.
What the funding will be used for: The proceeds of the facility will be used to support growth initiatives and pursue strategic acquisitions. This transaction replaces Yext’s revolving credit facility with Silicon Valley Bank, which was set to expire at the end of 2025.
KEY QUOTE:
“This financing reflects the strength of Yext’s business and the scale of opportunity ahead. With BlackRock’s support, we’re sharpening our focus on disciplined growth, investing in the products, partnerships, and strategic moves that will expand our leadership in digital presence management. This facility strengthens our balance sheet and gives us the flexibility to act decisively as opportunities arise.”
Michael Walrath, CEO and Chair of the Board at Yext
