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Entravision Enters New Secured Bank Credit Facility
RADIO ONLINE | Friday, December 1, 2017 |
Entravision Communications has entered into a new $300 million secured bank credit facility. It replaces the company's existing senior secured term loan credit facility that began on May 31, 2013. The hispanic radio broadcaster will use proceeds from the $300 million credit facility to repay in full the $290 million remaining outstanding under the company's term loan credit facility.
"We continue to proactively manage our capital structure," said Entravision Chairman/CEO Walter F. Ulloa. "This new facility provides increased flexibility as it extends the maturity date of our outstanding debt by four years, to November 2024, and provides us the option to make prepayments, without penalty after the first six months. We continue to execute on our strategic plan and with a strong balance sheet remain well positioned to capitalize on growth opportunities."
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