Mondee Obtains $15M Letter Of Credit From Morgan Stanley; Term Loan Maturity Extended To June 30, 2028
Portfolio Pulse from Benzinga Newsdesk
Mondee has secured a $15M letter of credit from Morgan Stanley, extending its term loan maturity to June 30, 2028, and its preferred equity put option to December 31, 2028. This provides Mondee with at least $20M in working capital to support growth.
September 17, 2024 | 8:20 pm
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Mondee has obtained a $15M letter of credit from Morgan Stanley, extending its term loan maturity to 2028 and increasing its working capital to at least $20M. This financial move supports Mondee's growth strategy.
The $15M letter of credit and extended loan maturity provide Mondee with significant financial flexibility and working capital, which is crucial for its growth plans. This is likely to be viewed positively by investors, potentially boosting the stock price.
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