Ropes & Gray Advises Banks on the Financing for Outbrain’s Acquisition of Teads

Ropes & Gray has advised Goldman Sachs, Jefferies and Mizuho on all the financing elements of Outbrain’s acquisition of Teads.

The acquisition financing consisted of a $625 million funded bridge facility, a $100 million revolving credit facility, and issuance of $637.5 million of 10.000% senior secured notes due 2030, which was used to refinance the bridge facility.

Outbrain Inc. and Teads combined on February 3, 2025, and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media – one of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally.

The Ropes & Gray team was led by finance partner Michael Kazakevich with support from counsel Luwam Mezue and Alexandru Mocanu, associates Priyambada Das, Matea Scepanovic, Mohammed Al Rasheed and Alma Yasin and law clerks Alexandra Elphick and Anushka Shah. Finance partner Benoit Lavigne, counsel Jacob Bennett and associates Kwame Adzatia and Edward Olsen advised on English law aspects of the transaction.