SANTA MONICA, Calif.
Dec. 21, 2012
/PRNewswire/ -- Entravision Communications Corporation (NYSE: EVC) today announced that on
December 20, 2012
the company entered into a new
credit facility, consisting of a
term loan and a
revolving credit facility. The new credit facility replaces the company's existing
revolving credit facility.
The company intends to use proceeds from the
term loan to partially fund the company's previously announced redemption of
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.
Additional details of the new credit facility are outlined in the company's Current Report on Form 8-K dated today, filed with the Securities and Exchange Commission.
About Entravision Communications Corporation
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and digital operations to reach Hispanic consumers across
the United States
, as well as the border markets of
. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 19 of the nation's top 50 Hispanic markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 49 owned and operated radio stations. Additionally, Entravision has a variety of cross-platform digital content and sales offerings designed to capitalize on the company's leadership position within the Hispanic broadcasting community. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.
SOURCE Entravision Communications Corporation