MUFG leads $100 million credit facility for Sprout Social
New York, NY (August 17, 2023) – Mitsubishi UFJ Financial Group (MUFG) announced it acted as Administrative Agent and Collateral Agent on Sprout Social, Inc.’s new $100 million credit facility. Sprout Social is an industry-leading provider of social media management software. MUFG acted as Administrative Agent on the transaction, which provided Sprout Social with funds to help effectuate the recently announced acquisition of Tagger Media and for general corporate purposes.
“We are pleased to have partnered with MUFG on this debt financing,” said Joe Del Preto, Chief Financial Officer, Sprout Social. “The team clearly understood our business needs and executed smoothly on this transaction that will help support Sprout’s continued innovation and growth.”
“MUFG is proud to partner with Sprout Social to support their business development and growth plans,” said Bob Blee, Head of Growth and Middle Market Technology Banking at MUFG. “As a global financial institution, MUFG is committed to delivering full-service banking capabilities to later stage private and public technology companies. Sprout Social has built an impressive platform to help customers manage their social media footprint and we are excited to build a longstanding partnership.”
About Sprout Social
Sprout Social is a global leader in social media management and analytics software. Sprout’s intuitive platform puts powerful social data into the hands of more than 30,000 brands so they can deliver smarter, faster business impact. With a full suite of social media management solutions, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s award-winning software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.
About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. MUFG has nearly 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest foreign banking organizations in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.