Entravision Communications Enters Into New Secured Bank Credit Facility
May 31, 2013 at 8:27 AM (PT)
ENTRAVISION COMMUNICATIONS has entered into a new secured bank credit facility, consisting of a $30 million revolving credit facility and a $20 million term loan, and a $375 million delayed-draw term loan which may be drawn on a date of the company's choosing between AUGUST 1st-15th. The new facility replaces the company's existing $30 million revolving credit facility and $20 million term loan facility.
"As a result of our new credit facility, we will substantially improve our capital structure, providing us with additional financial flexibility as we continue to execute our strategic plan to further strengthen our diversified media platform and fully capitalize on the growth of the nation's Latino population," said Chairman/CEO WALTER F. ULLOA.