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BofA, Wells Fargo, JPMorgan Chase Provide $275MM in Credit Facilities to Entravision

March 21, 2023, 07:51 AM
Filed Under: Advertising

Entravision, a leading global advertising solutions, media and technology company, announced that on March 17, 2023 the Company entered into a new $275 million credit facility, consisting of a $200 million term loan A and a $75 million revolving credit facility. Led by Bank of America, Wells Fargo, and J.P. Morgan Chase, the new credit facility replaces the Company’s existing credit facility entered into on November 30, 2017. Entravision anticipates it will use the proceeds from the new credit facility to fund its working capital needs, acquisitions and other general corporate purposes.

“The closing of this facility in this volatile financial market is a testament to the continued financial strength of our Company,” said Chris Young, Interim Chief Executive Officer and Chief Financial Officer of Entravision. “Our new facility extends the maturity of Entravision’s outstanding debt, while at the same time increases the flexibility of our strong balance sheet. We remain well-capitalized as we continue to execute on our long-term strategic plan and show leadership in the global digital media industry.”

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