GreenSky, Inc. Announces Closing of $75 Million Incremental Term Loan

GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY), a leading financial technology company Powering Commerce at the Point of Sale®, today announced the closing of a $75 million incremental Term Loan B facility, the proceeds of which will be used for general corporate purposes and to enhance the Company’s overall liquidity position. The incremental term loan, priced at Libor plus 450 basis points, with a 1% Libor floor, will have the same security, maturity, principal amortization, prepayment, and covenant terms as the existing term loan under the Company's Term Loan B Credit Facility. The Term Loan B Credit Facility matures on March 29, 2025.

"Despite dislocation in the credit markets as a result of the COVID-19 pandemic’s unpredictable near and longer-term impact upon the US economy, I am very pleased that GreenSky has closed on this incremental syndicated debt placement in such efficient fashion, with institutional holders of the Company’s existing Term Loan B debt subscribing for the vast majority of this incremental tranche,” said David Zalik, GreenSky Chairman and CEO.

JP Morgan Chase Bank, N.A., acted as sole lead arranger and bookrunner for this transaction.

GreenSky, Inc.

GreenSky, Inc. (NASDAQ: GSKY) is a leading technology company Powering Commerce at the Point of Sale® for a growing ecosystem of merchants, consumers and banks. Our highly scalable, proprietary technology platform enables nearly 18,000 active merchants to offer frictionless promotional payment options to consumers, driving increased sales volume and accelerated cash flow. Banks leverage GreenSky’s technology to provide loans to super-prime and prime consumers nationwide. Since our inception, over 3 million consumers have financed nearly $24 billion of commerce using our paperless, real time "apply and buy" technology. GreenSky is headquartered in Atlanta, Georgia. For more information, visit https://www.greensky.com.

Contacts

Investors
Gerald R. Benjamin
404.380.1093
investors@greensky.com

Media
Julia Sahin, Edelman
212.738.6131
media@greensky.com