Entravision Starts News Credit Facility
December 21, 2012 at 7:29 AM (PT)
ENTRAVISION COMMUNICATIONS CORP. has entered into a new $50 million credit facility, consisting of a $20 million term loan and a $30 million revolving credit facility. The new credit facility replaces the company's existing $50 million revolving credit facility.
ENREAVISION intends to use proceeds from the $20 million term loan to partially fund its previously announced redemption of $40 million of the company's 8.750% Senior Secured First Lien Notes due 2017. The company intends to use proceeds from any future borrowings under the new revolving credit facility to, among other things, fund its working capital needs and other general corporate purposes.