Blend Labs prepays $85 million of term loans, extends to 2027

By Mary-Katherine Stinson

Lexington, Ky., Nov. 28 – Blend Labs, Inc. amended its credit agreement with Blue Owl Technology Finance Corp. as administrative agent on Nov. 27, according to an 8-K filing with the Securities and Exchange Commission.

The second amendment modified the maturity date of the term loans under the agreement to provide for a springing maturity extension to June 30, 2027, subject to some conditions, and terminated the revolving commitments.

In connection with the amendment, the company optionally prepaid $85 million of the outstanding term loans to reduce debt and interest expense.

San Francisco-based Blend Labs provides cloud-based software platform solutions for financial service firms in the United States.

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